Seatrium Completes Divestment of Karimun Yard

MT Newswires

03/10

Seatrium (SGX:5E2) completed the divestment of the Karimun Yard in Indonesia on March 9, according to a Monday filing with the Singapore Exchange.

Shares of the provider of engineering solutions for the global offshore, marine, and energy sectors were up over 1% in Tuesday trading.

The disposal is expected to deliver annualized cost savings of around SG$50 million, the filing said.

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