Kim Heng Offshore & Marine Holdings Limited, an established integrated offshore and marine value
chain services provider, is pleased to announce further acquisition of offshore support vessels,
namely Lewek Lynx, an Anchor Handling Tug / Supply (“AHTS”) and Swissco Summit, a chase boat.
Lewek Lynx is a 65 tonnes bollard pull AHTS vessel measuring 60 metres by 15 metres. It will be
subsequently renamed as Mazu 60, joining the Group’s growing fleet of AHTS vessels. The Group
has received a Letter of Intent for a short term two-month charter contract and will be preparing
to reactivate the AHTS to be fully operational in August 2018, for the provision of tow services and
other offshore related activities for a leading oil major in Q3 2018.
The Group had sold the Swissco Summit, a 30 tonnes bollard pull chase boat, to a foreign buyer
shortly after the purchase.
Both vessels were acquired at good value. The Group is in the process of acquiring more vessels,
to take advantage of economies of scale to improve the Group’s operating results moving forward.
The abovementioned chase boat sale and the charter contract will not have any material impact
on the earnings per share and net tangible asset of the Group for the financial year ending 31
December 2018.
None of the Directors, controlling shareholders or substantial shareholders of the Company has
any interest, direct or indirect, in the abovementioned transactions, save for their shareholdings in
the Company.
