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    Ezra acquires logistics and training base in Vietnam

    News // November 8, 2005

    Ezra Holdings Limited in Singapore has announced the US$5.5 million acquisition of Asian Technical Maritime Services Limited (ATMS), which owns a fully operational logistics and training base with water frontage in Vietnam.

    “This acquisition provides Ezra with a training and logistics base. It will increase our competitiveness, cost structure and will not only complement and support our operations and vessel fleet’s requirements but also our clients’ needs in Vietnam as well as other oil majors around the region,” said Mr Lionel Lee, Ezra’s Managing Director.

    ATMS has a land area of about 97,069m2 with a long-term lease of about 25 years. Ezra’s wholly-owned HCM Logistics Ltd (formerly known as Strong Union Ltd) will pay for ATMS in two instalments, the first being US$4.9 million.

    The Group continues to build on its fleet size as well as its range of offshore support capabilities. Ezra manages 14 vessels comprising six AHTS, two anchor handling tugs, two tugs, two crewboats, one barge, and a heavy lift accommodation work barge. By end-FY2008, the fleet under management and operation will grow to 30 offshore support vessels with a strong deepwater E&P support services capability.

    The Group operates one of the youngest fleets of specialized vessels serving Asia’s buoyant offshore oil and gas industry. In the August 2005 fiscal year, Ezra reported a 138 per cent rise in Group net profit to S$36.1 million.

    Mr Lee added: “Demand for offshore support services is growing fast and this base will enable Ezra to enhance its presence in our current markets and position us to penetrate new areas of opportunities. This is especially so in ensuring the certainty of skilled crew who will be able to exceed the stringent safety and efficiency requirements of our clients.”

     

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