SINGAPORE'S SLM HOLDINGS TO DREDGE, SELL INDONESIAN SAND.

164 words
27 December 2000
12:56 PM
Asia Pulse
English
(c) 2000 Asia Pulse Pte Limited

SINGAPORE, Dec 27, Asia Pulse - Links Island Holdings Limited (SGX:LIHL) subsidiary SLM Holding Pte Ltd has entered into exclusive rights agreements with two Indonesian concession holders to dredge, extract, export and sell 50 million cubic metres of sea sand from the Batam region in Indonesia, the Stock Exchange of Singapore reported.

The agreement with concession holders Bumi Samudera Argo Megah and Mutiara Mega Perkasa Abadi is for Links reclamation projects in Singapore for up to a period of four years commencing January 2001.

Dredging and extraction work is scheduled to commence in February 2001.

An aggregate sum of S$110,000 (US$64,000) has been paid to the Concession Holders as advance deposits which would be accounted for in the current financial year.

None of the directors or the substantial shareholders of the company has any interest, direct or indirect, in the above-mentioned transaction, the Stock Exchange of Singapore reported

ASIA PULSE.