Release: Labroy Marine Limited wins 2 shipbuilding contracts totalling US$17,210,000
Monday, August 18 2003 - 03:04 PM WIB
August 18, 2003 -- The Directors of Labroy Marine Limited ("the Company") are pleased to announce that the Company's Indonesian subsidiary PT. Nanindah Mutiara Shipyard has on 15 August 2003 signed 2 shipbuilding contracts with 2 subsidiaries of Indonesian national oil company, Pertamina to build a 6,500 dwt and a 3,500 dwt product oil tankers at a total price of US$17,210,000.
The tankers are expected to be delivered in about 18 months.
With these contracts Labroy's 2003 shipbuilding order book stands at about S$120 million and will keep the shipbuilding department busy till 2005.
The shipbuilding contracts are not expected to have any material effect on the earnings per share and net tangible assets per share of Labroy Group in the current year. (end of release)
Editor's note: Singapore-based Labroy Marine Limited, which is listed on the Singapore Stock Exhange, owns and operates two shipyards; the principal yard is a leading shipyard in Batam, Indonesia and the second yard is located in Jurong, Singapore.