Further to the Company's announcement made on 26 September 2007 (Announcement no. 00057), the Board of Directors (the "Board") is pleased to announce that it has taken delivery of Sinar Sumba, the first of two container ships with a carrying capacity of 1,740 TEUS from Guangzhou Wenchong, China. The two vessels were committed last year for a total consideration of USD 83 million.
Sinar Sumba was delivered yesterday, 23 June 2008 in Guangzhou and is expected to set sail to Hong Kong tomorrow, on 25 June 2008, for its maiden deployment on the Korea-China-Malaysia service (KMS). The other container vessel with carrying capacity of 1,740 teus is expected to be delivered from Guangzhou Wenchong, China in the 4th quarter of 2008.
The new vessel will go towards helping the Group attain its long-term strategy of achieving better flexibility in fleet deployment and stability in overall vessel operating cost.
By order of the Board,
Anwarsyah
Executive Director
24 June 2008