Samudera ups its stake

Samudera ups its stake

SINGAPORE (Reuters): Samudera Shipping Line Ltd said
yesterday it had raised its stake in its fully-owned subsidiary
Foremost Maritime Pte Ltd to 40,655,000 ordinary shares from
9,915,000 shares.

Samudera had bought 30,740,000 ordinary shares of Foremost
Maritime at S$1 each on Jan. 26, a company statement said.

Samudera had also bought two ordinary shares at S$1 each from
Regional Transport Pte Ltd and proposed to purchase a further
49,998 ordinary shares at S$1 each. Regional Transport would be a
wholly-owned subsidiary of Samudera, the statement said.

Samudera is a major shipping company in Asia involved in
feeder and container shipping and the transportation of liquid
and gas cargoes in Asia.

It is part of Samudera Indonesia Group, a transportation
company.