Jaya Holdings in S$60m link with Hasko<\/p>\n
SINGAPORE (Reuter): Shipping company Jaya Holdings Ltd said
\nyesterday it had signed a memorandum of understanding (MOU) with
\nIndonesia's Hasko Group for a joint-venture project that will
\nguarantee a minimum of Singapore $60 million in freight revenues
\nover five years.<\/p>\n
Under the MOU, two new joint-venture companies will be set up
\nto own and operate tugs and barges serving companies in the Hasko
\ntimber processing group, Jaya said in an announcement to the
\nSingapore stock exchange.<\/p>\n
The first will be an Indonesian company which will purchase
\nnine vessels with four cranes on board, all currently owned by
\nHasko under Indonesian flag registration.<\/p>\n
The second will be a Singapore company which will purchase
\nfive vessels with three cranes on board currently owned by Hasko
\nunder Singapore flag registration.<\/p>\n
In addition Jaya will invest into an existing Hasko company
\nwith a shipyard facility in South Kalimantan, Indonesia.<\/p>\n
When the three joint ventures are duly established, it is
\nintended for Jaya to have a 51 percent equity stake in all three
\nand for Hasko to hold the remaining 49 percent.<\/p>\n
All vessels of the ventures will be contracted to service
\nHasko under a five-year agreement which will guarantee a minimum
\nof S$60 million. Jaya said the cooperation would reinforce its
\npresence in Indonesia's domestic shipping market, and allow both
\nparties to extend Jaya's capability in shipping and yard
\noperations to the timber trade.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/jaya-holdings-in-s60m-link-with-hasko-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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