The group says that this will make SUTL Enterprise the largest owner/operator of integrated marinas in Singapore with a combined 436 berths.
The group intends to invest in infrastructure modernisation and rebrand it ONE°15 Marina Keppel Bay and believes the new site will bring significant operational and commercial synergies that are expected to strengthen its core marina business.
SUTL Enterprise is a mainboard listed company which develops and operates marinas, and also provides marina consultancy, marina development and yacht chattering services. It owns the ONE°15 Marina Sentosa Cove in Singapore and operates ONE15 Luxury Yachting.
Shares in SUTL Enterprises closed 1.5 cents higher or 1.765% up at 86.5 cents on Dec 30.
