Soechi enters LPG transport business
Wednesday, February 18 2015 - 02:36 AM WIB
IDX-listed shipping firm PT Soechi Lines Tbk announced Monday that its 99.99 percent-owned subsidiary PT Sukses Maritime Line has acquired an 85 percent stake in PT Simbio Lintas Energi (LSE).
The company said in a statement that the acquisition is part of its expansion strategy in the shipping business. It did not provide further details.
Investor Daily said that LSE is engaged in LPG transport business. Bisnis Indonesia said that Soechi plans to acquire seven new vessels this year, allocating Rp 320.38 billion funds, taken from its initial public offering proceeds.
Editing by Reiner Simanjuntak