Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Otto Marine raises S$95m

Singapore: Otto Marine has successfully raised S$95m through a share placement as it looks to grow its offshore services division. Investors in the share placement include veteran Singapore businessman Tan Boy Tee, the owner and founder of Labroy Marine until selling out to Drydocks World. "The bulk of the newly raised proceeds will fund the growth of our specialised offshore services business, which we are confident will soon rival our shipbuilding and ship chartering businesses," said Lee Kok Wah managing director of Otto Marine. The Singapore-listed company owns and operates Batamec Shipyard in Batam, Indonesia. [05/02/10]

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish