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ASL Marine to buy Batam shipyard for $25.6m

Published on Jan 27, 2014 8:50 AM

ASL Marine Holdings and its wholly-owned subsidiary, PT Sukses Shipyard Indonesia, have agreed to buy a shipyard in Batam for US$20 million (S$25.6 million).

The shipyard, to be purchased from PT Loh & Loh Construction Indonesia, is located next to ASL Marine's existing shipyard in Batam, the group said in a filing to the Singapore Exchange on Monday.

The Batam shipyard was valued at around $33 million as at Dec 20 last year by property valuer KJPP, Sarwono, Indrastuti & Rekan.

ASL Marine already owns four shipyards, which are located in Singapore, Batam and China.

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