Sembawang's yard profits

Sembawang's yard profits

SINGAPORE (Reuter): Singapore's Sembawang Corp says it expects
its new shipyard on the Indonesian island of Karimun to be
profitable in its third year of operations, the Straits Times
said.

The yard is to be officially opened in October, the newspaper
quoted Tan Mong Seng, president of Sembawang's machine and heavy
industries division, as saying.

Tan said Sembawang would explore other regionalization plans,
such as investing in a shipyard in southern China, depending on
the success of the Karimun project. The firm already has a joint
venture yard in northern China.

The group was also considering building a S$50 million
shipyard on Jurong Island for high value work, the newspaper
said.