Some people buy rundown houses to refurbish them and then sell them at a profit. Singapore offshore player King Heng does the same thing, but with ships.
The Singapore-listed company has just raided the secondhand bargain basement with the acquisition of nine offshore support vessels for the sum of just $9.3m.
The acquisitions were made by 49%-owned indirect subsidiary Ruhm Mazu Sdn Bhd, the company said in a regulatory filing.
