ASL Marine to buy Batam shipyard for $25.6m
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.