|
TO
expand its flagship facility in Batangas province,
shipyard operator Keppel Philippines Marine Inc., also
known as Keppel Philippines, has invested in Goodsoil
Marine Realty Inc.
Keppel
Philippines, the only shipyard company listed on the
Philippine Stock Exchange, said in a disclosure it would
give Goodsoil Marine P79 million in additional capital.
Goodsoil
Marine owns the land in Bauan, Batangas, which is used
by Keppel Philippines for ship-repair activities. Keppel
Philippines Holdings Inc. has an effective ownership of
51 percent in Goodsoil Marine.
The
disclosure didn’t specify what would be improved and
expanded in Keppel Philippines’ shipbuilding operations
in Bauan.
Keppel
Philippines maintains shipyards in Batangas south of the
main island
Luzon and
Cebu in central
Philippines. The shipyards are strategically located to
serve vessels plying the
South China Sea
and the Pacific Ocean.
In 2007
the firm’s flagship business in Batangas repaired and
dry-docked a total of 82 vessels, compared with 80 a
year earlier. The number of foreign vessels repaired
rose to 40 from 28.
Keppel
Cebu repaired 77 vessels, 43 of which belong to local
shipping companies, from 92 recorded in 2006.
Earlier
the shipyard operator said demand for ship repair and
conversion remains strong. These are Keppel
Philippines’
core operations that allowed the firm to develop
further.
The
company will keep on grabbing opportunities in the
upbeat shipping industry and securing more conversion
contracts for floating production, storage and
off-loading vessels and single-hulled to double-hulled
tankers and other types of ships, it said.
Keppel
Philippines stock was unchanged at P2.50 per share
Friday.
The
company is 81.25-percent owned by Singapore-based KS
Investments Pte Ltd., the rest by various Filipino
investors that include Henry Sy and the SM group and the
Philippine National Oil Co.-Shipping and Transport Corp. |
