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SHS Holdings Disposes Entirety Of Subsidiaries For $100.3 Million
Daily Bulletin | 21 September 2015
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SHS Holdings has announced the disposal of its entire shareholding interest of TAT Petroleum and Axxmo International, each a wholly-owned subsidiary of the group, as well as its 1 percent ownership of PT TAT Petroleum Indonesia, for a total of $100.3 million.

The disposal of the subsidiaries is in line with the group’s ongoing strategic review and objective of streamlining activities and businesses across the group. The disposal unlocks value for the group’s shareholders and increases the overall financial capacity and flexibility of the group so as to enable the company to strengthen and grow its other strategic business units.

The group intends to utilise the net proceeds for working capital requirements, general corporate purposes and reducing the external borrowings of the group.

SHS Hldgs  0.167 -- --   
Business: Co provides grit blasting, tank cleaning, painting, ship repair, ship building, & scaffolding services. [FY18 Turnover] Engineering & Construction (52.1%), corrosion prevention (31.7%), solar energy (14.6%), others (1.6%).

Insight: May-19, 1Q19 revenue fell 65.4% to $4.6m due to lo... Read More

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