Chuan Hup Unit Secures Patrol Boat Contract

Chuan Hup Holdings Ltd.'s joint venture company Asia-Pac Geraldton Pte Ltd. secured a $11.9 million contract to build seven high-speed patrol boats for the Singapore Police Force (Coast Guard). The company had previously secured a $29.7 million contract to build 18 patrol boats and two command boats for the Singapore police in September 1997, with an option to buy up to another 21 boats. The police force has now exercised its option to buy another seven patrol boats.