Keppel Raise Stakes in Philippines Shipyard

Tuesday, August 03, 2010
One of three shipyards operated by Keppel Philippines Marine Inc, Subic Shipyard, provides repair, conversion and building services for ship owners and oil rig operators. Photo courtesy Keppel Corp.

Keppel Corporation Limited (Keppel Corp), through a subsidiary Keppel Philippines Marine Inc, (KPMI), is raising its shareholdings in two associated companies, Subic Shipyard and Engineering Inc. (SSEI) and Consort Land, Inc. (CLI) to boost its Near Market, Near Customer strategy in the Philippines.

SSEI is a shipyard located in Subic Bay, the Philippines, which provides repair, conversion and building services to shipowners and offshore operators in the region. It also carries out routine and specialized machinery reconditioning works, as well as steel fabrication for marine and offshore structures. CLI owns 72 ha of land including the 20 ha on which SSEI is situated.

A total cash consideration of approximately S$86.5 million will be made by Keppel to raise its effective stakes from 44% to 83.9% in SSEI and from 33.7% to 38.7% in CLI. The sale and purchase of shares in both companies is expected to be completed by the end of September 2010, following which, SSEI will become a Keppel subsidiary.

Maritime Reporter October 2013 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

US Shipyard to Produce GTT's LNG Membrane Tanks

Gaztransport & Technigaz (GTT), a designer of membrane containment systems for the maritime transportation and storage of liquefied natural gas (LNG), via its U.

Swissco Doubles Rig Fleet

SGX Mainboard-listed Swissco Holdings Limited an integrated, international marine services provider, today announced having completed the acquisition of four additional mobile offshore drilling units,

Swire Pacific Acquires 3rd L Class PSV

Shipowner and operator, Swire Pacific Offshore Operations (Pte) Ltd (SPO) celebrated the naming and delivery of its third L Class PSV vessel, Pacific Legend in Kyoto,

 
 
Maritime Contracts Maritime Security Maritime Standards Pipelines Port Authority Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2494 sec (4 req/sec)