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ASL Marine Holdings Ltd Announces Acquisition Of A Joint Venture Company

Thursday, 21 Nov 2013 05:51am EST 

ASL Marine Holdings Ltd announced that the Group has completed the acquisition of a joint venture company, PT Sindomas Precas (PT SP), an Indonesian entity engaged in the business of concrete precast operations (the Acquisition). Sindo-Econ Pte. Ltd, a 50%-owned joint venture company of the Group with Econ Precast Pte Ltd, a wholly-owned subsidiary of Koon Holdings Limited, holds 90% of PT SP, and Intan Overseas Investments Pte. Ltd., a wholly-owned subsidiary of the Company, holds 5% of PT SP. Accordingly, the Group has an effective interest of 50% in PT SP. The total cash consideration for the Acquisition is IDR1 billion, equivalent to approximately SGD108,000 (the Consideration), and was arrived at on a willing-buyer and a willing-seller basis after taking into account the share capital of IDR 1 billion. 

Company Quote

7 May 2015