Millionaire businessman Low Hock Heng is aiming to "dominate" the Singapore market with his order for a fleet of new high-speed ferries, according to sources close to the deal.

It comes hard on the heels of Low selling his 30% stake in Auto Batam Ferries' to Penguin Boat International and being released from a non-competition clause involving former partner SembCorp Logisitics.

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