OTTO MARINE: Capital-intensive business but no lack of funds

Marine tycoon Tan Boy Tee

SHIPBUILDING AND CHARTERING are capital-intensive, but Otto Marine has no lack of ship financing.

Two tycoons are funding its plans to widen its scope of marine & offshore vessels.

Analysts were already taking a second look at the leading platform support vessel builder when the market was rife with rumors that Otto Marine is "supported" by heavy weight investors.

This evening, it announced that Mr Tan Boy Tee and Mr Tan Kim Seng were among the investors in its recent placement of S$95 million. Read more here.