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One Indonesia sector that SGX can tap

Published Thu, Oct 2, 2014 · 09:50 PM

NAM Cheong's announcement earlier this week to increase its presence in the lucrative Indonesia offshore and marine market could see an uptick in SGX-listed companies heading there.

Malaysia's largest offshore support vessel (OSV) builder said that it was investing US$30.7 million for a 30 per cent stake in Marco Polo Marine's Indonesian subsidiary, BBR. The Jakarta-listed BBR provides shipping services for various kinds of bulk materials, including coal, granite and sand.

Nam Cheong is not the first SGX-listed company to tap the ship chartering segment in Indonesia. Indeed, Marco Polo Marine itself did so with its stake in BBR, while Pac…

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