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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments