Federal International sells work barge
(2004-09-08)

Federal International sells work barge

FEDERAL International (2000) Ltd said it has a inked a deal to sell its accommodation and work barge to Bumi Armada Navigation Sdn Bhd for US$11.3 million. Proceeds from the sale will be used for Federal's working capital. Federal said the sale will have a positive material impact on the earnings per share and the net tangible assets per share for the year ending Dec 31.

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