Penguin International Establishes Shipbuilding Company in Indonesia

MT Newswires

03/27

Penguin International (SGX:BTM) established a shipbuilding and repair operation company in Indonesia named Maju Batam Shipyard, according to a Thursday filing with the Singapore Exchange.

Shares of the integrated marine and offshore services company were down over 1% in Friday trading.

The new subsidiary was incorporated by Penguin International's subsidiaries, Penguin Shipyard International and PKS Shipyard, using internal resources.

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