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.