SINGAPORE (Yosefardi) – ASL Marine Holdings Ltd. said its wholly-owned subsidiary, Intan Overseas Investments Pte. Ltd. (IOIPL), has incorporated a wholly-owned subsidiary, PT. Sukses Shipyard Indonesia (PT SSI) in Batam, the Republic of Indonesia.
PT SSI will be engaged in shipbuilding and shiprepair services. IOIPL will be making an initial cash injection of US$250,000 (comprising 250 shares of US$1,000/- each) towards the paid up capital of PT SSI.
The Group’s investment in PT SSI will be funded through internal resources.