Singapore’s Beng Kuang Marine has agreed to sell a further slice of its shipyard facility in Batam, Indonesia as it looks to bolster its finances.
The Singapore Exchange-listed company is selling around 100,970 square metres of the facility for SGD 9.89m ($7.3m) to PT Bukit Batu Mulia.
The buyer is a joint venture between local Indonesian businessman George Santos, who has interests in mining and shipping, and China’s Nanshan Group, which is involved in aluminium processing, fabric and garment manufacturing and processing, real estate, finance, scientific research, education, tourism and the health sector.
