Singmarine Subsidiary Clinches $6 Million Contract and Launches Cargo Vessel

Aluminium Craft (88) Pte Ltd (Aluminium Craft), a subsidiary of Singmarine Industries Limited (Singmarine), recently clinched a contract worth about $6 million for two monohulls.

The contract is with Penguin Boat Services Pte Ltd (Penguin Boat Services), one of Singapore's largest ferry operators. The first vessel is a 27-metre ferry with a capacity for 300 passengers.

These two monohulls are scheduled for delivery in the fourth quarter of 1995 and the first quarter of 1996 respectively. Aluminium Craft has built five similar passenger ferries for the same owner within the last three years.

Meanwhile, Aluminium Craft has launched a 53-metre cargo vessel for Mofaz Marine Sdn Bhd. The vessel, named Lada Kargo I, is the second of a two-vessel contract while the first vessel, a tugboat Lada Kargo II, was delivered ahead of schedule to its owners in July 1995. Both vessels are owned by LADA Langkawi (Holdings) Sdn Bhd, a wholly-owned subsidiary of Langkawi Development Authority of West Malaysia.

Lada Kargo I has a capacity of 1,000 tonnes and it will be used to transport general cargo as well as vehicles. Powered by two diesel engines, it has a service speed of 9 knots and is expected to be delivered to its owners in the fourth quarter of the year.

"Aluminium Craft continues to benefit from a growing demand for passenger transportation in the Asia Pacific region. We are committed to expand our services in new markets such as Malaysia," said Mr Lim Siam Kim, Chairman of Aluminium Craft.

Apart from building and repairing aluminium vessels, the Company is also involved in the fabrication of industrial aluminium products.