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BH Global says owed $1.5m for vessels robbed from Batam yard

BH Global says owed $1.5m for vessels robbed from Batam yard
BH Global Corp says it is owed SGD1.96m ($1.55m) by the owner of two vessels forcibly taken by a mob from its shipyard in Batam, Indonesia at the weekend.

Singapore-listed BH Global, formerly BH Marine, confirmed that two vessels were “forcefully removed and robbed” by a group of 50 to 100 from the yard of its subsidiary BH Marine & Offshore Engineering.

BH Global said it was owed SGD365,000 by customer PT Andalan Mitra Bahari for repair works completed in January on one of the two vessels involved.

The other vessel, a newbuilding, was also built for PT Andalan at an agreed price of SGD2m according BH Global. The Singapore company said it had only received SGD400,000 from the buyer.

Local reports on Monday said PT Andalan said it had made eight requests for the vessels to be delivered.

“The Batam police are currently investigating into the matter to ascertain the party (or parties)

responsible for the incident. Based on the information presently available, the Batam police are

currently coordinating with the relevant parties to retrieve and return the vessels to the shipyard,” BH Global said.

It is not the first time the company has run into difficulties in Batam. In March this year the company made a SGD$2.8m ($2.2m) provision for a believed fraud by an undisclosed agent in Batam over a botched deal acquire 30 hectares of land.