Singapore: Singapore’s ASL Marine Holdings has moved to strengthen its portfolio of shipyards. The company has paid $20m to take on a shipyard from Miclyn Express Offshore, which neighbours its own Batam yard, PR Sukses Shipyard Indonesia.
On top of that, ASL has also pumped $720,000 into the capital of its 60% owned subsidiary, Hongda Investment (HDI), while the other shareholder of HDI has injected an additional amount of $480,000 into the capital of HDI.
HDI has in turn injected the amount of $1.2m into the capital of its wholly-owned subsidiary, Jiang Men Hongda Shipyard (JMHD) in China. [09/05/14]