Labroy Marine seeks listing

Labroy Marine seeks listing

SINGAPORE (Reuter): Labroy Marine Ltd said yesterday it has
received approval in principle for a main board listing on the
Stock Exchange of Singapore.

The Singapore-based marine company, formerly called Heng Huat
Shipbuilding and Construction, also has offices in Indonesia and
Australia.

Labroy builds commercial vessels, tugs, barges and marine
steel structures, and provides shiprepair and conversion
services, mainly at its 12-ha shipyard in Batam, Indonesia.

It operates and charters tugs, barges, general cargo vessels
and livestock carriers and provides towing and dredging services.
It also owns and operates a private wharf in Australia to
complement the livestock carrier business.

The group operates a fleet of 110 vessels and has carved a
niche in the livestock transportation business.

Group turnover was Singapore $69.4 million in 1995 while
pretax was S$11.2 million.

Labroy said in a statement it planned to increase its existing
fleet of livestock carriers and to diversify into the product
tanker business.

It was broadening its shiprepair business by adding a new
floating dock it built itself, the statement said.