Swiber Holdings To Purchase Construction Barge

Swiber Holdings’ indirect wholly-owned subsidiary, Swiber Atlantis, has entered into an agreement to purchase a construction barge for US$10 million.

Based on a valuation report commissioned by the seller, the market value of the 110 metre barge on the basis of a prompt sale in Singapore on a willing-buyer willing-seller basis is US$15 million. The acquisition of the barge is undertaken as part of the group’s strategy to support its ongoing projects and the consideration will be funded...

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