SINGAPORE (Yosefardi) – Federal Hardware Engineering Co Pte Ltd, subsidiary of SGX-listed Federal International (2000) Ltd, has boosted its investment in PT Fedsin Rekayasa Pratama by US$3 million on October 11, 2013.
With the capital injection, Federal’s investment in the Indonesian subsidiary increased to US$3.099 million, lifting its ownership to 99.97%.
“The increase in PT Fedsin is to enable the company to undertake larger scale oil and gas projects in Indonesia,” Federal said.
PT Fedsin is involved in the supply, assembly, and distribution of flowline control products and related oil and gas equipment, and distribution of oilfield drilling equipment for use on onshore and offshore rigs, and drilling platforms.