Singapore?s Labroy Marine buys 51% stake in Sabre Systems for S$2.29 M

Singapore Exchange listed firm Labroy Marine Ltd said on Thursday it had acquired a 51 percent stake in Sabre Systems International Pte Ltd from PT Pulau Kencana Raya of Indonesia for a cash consideration of S$2.295 million (US$=S$1.734).

Labroy said the investment in Sabre Systems, which is engaged in the business of crude petroleum and natural gas production, was expected to enhance it earnings growth potential.

Labroy is a transportation and engineering group with core business in shipping, shipbuilding and repair and technology in Indonesia and Singapore as well as a wharf in Australia. (*)