Achieva changes course to operate Sentosa marina

Singapore

LOSS-MAKING IT and computer parts distributor Achieva plans to become the owner and operator of the ONE°15 Marina Club in Sentosa Cove after buying over the business from its controlling shareholder for S$21 million, it said on Monday.

In a bid to move away from electronics, the mainboard-listed company is proposing to pay about S$20 million to buy SUTL Marina from privately held lifestyle and consumer goods group SUTL Global, which owns a controlling stake of 25.29 per cent in Achieva. SUTL is also selling Achieva a yacht chartering firm, One15 Luxury Yachting, for about S$1 million.