SUTL Secures 2nd Marina Management Contract in Indonesian Waters

Monday, 13 August 2018, 15:00 HKT/SGT

- ONE°15 Marina Nirup Island will bring the number of ONE°15 marinas globally to eight -

SINGAPORE, Aug 13, 2018 - (ACN Newswire) - SUTL Enterprise Ltd (SUTL Enterprise, SGX:BHU) a leading marina developer, operator, consultancy provider and owner of the ONE°15 brand, has secured its second management contract in Indonesian waters for an integrated marina at Nirup Island, located within close proximity to Singapore (8 nautical miles) and Batam. When completed, Nirup Island will be the closest resort island to Singapore with clear waters and a full suite of recreational amenities catering to visitors from Singapore, Malaysia, Indonesia, and beyond.

Rendering of ONE15 Marina Nirup Island

The 10-year contract was awarded by PT Tritunas Sinar Benua, an Indonesian company based in Batam. SUTL Enterprise will be consulting on the project, which is expected to commence construction in 2018 and completed in 12 to 18 months. Upon completion, the Group will manage the marina and its clubhouse under the name ONE°15 Marina Nirup Island. The Group has also secured the first rights of refusal for the purchase of the ONE15 Marina Nirup Island assets should the property ever be up for sale in the future.

The new marina will be constructed according to the highest international standards. It will occupy a total area of 4.71 hectares and offer 112 berths (including superyacht berthing and facilities), an integrated club house on the land-side, hospitality and leisure amenities, a sea sports centre, as well as fueling and bunkering services. Visitors will also be able to charter luxury yachts for island hopping. Also situated on Nirup Island are hotels and water villas managed by international hotel chains, a seafood centre and various other attractions, facilities and amenities.

ONE°15 Marina Nirup Island will provide Custom Immigration Quarantine Procedures (CIQP) services for the convenience of boaters clearing in and out of Indonesia. The marina will also fall under SUTL Enterprise's ONE°15 Global Membership Scheme, which will give ONE°15 members access to members-only areas around the integrated marina club and discounts on services.

SUTL Enterprise Executive Director and Chief Executive Officer, Mr Arthur Tay, said: "We are very excited about the latest addition to our network of marinas, which will enable us to offer our Global Members yet another destination to consider for their next getaway. ONE°15 Marina Nirup Island is especially close to our flagship ONE°15 Marina Sentosa Cove in Singapore and our upcoming marina in the Iskandar precinct of Johor, Malaysia - ONE°15 Puteri Harbour. This latest project brings us closer to our vision of establishing a string of world-class integrated marinas connecting boaters from one destination to the next as they sail the world."

ONE°15 Marina Nirup Island is the eighth marina for SUTL Enterprise and its second marina management contract in Indonesia. The first was the Indonesian Navy Club managed by ONE°15 in Jakarta. Other marinas include the ONE°15 Marina Sentosa Cove, Singapore, which is the first marina owned by SUTL Enterprise, the ONE°15 Brooklyn Marina in Brooklyn, New York, USA, which is the first ONE°15 marina outside Asia. In China, the Group has two marinas - the ONE°15 Marina Guishan and the ONE°15 Marina Taihu Lake, Suzhou.

Closer to home, SUTL Enterprise is currently developing an integrated marina at Makham Bay in Phuket, Thailand. The Group has incorporated a joint venture company with UEM Sunrise Berhad to develop a public marina, a private marina and a superyacht marina in Puteri Harbour of Iskandar Puteri in Iskandar Malaysia, Johor. All the projects will be branded ONE°15.

About SUTL Enterprise Limited
Listed on the SGX Mainboard (SGX: BHU), SUTL Enterprise develops and operates marinas, and also provides marina consultancy, marina development and yacht chartering services. It owns the prestigious ONE°15 Marina Sentosa Cove in Singapore and operates ONE°15 Luxury Yachting, which offers yacht chartering services at the club. See www.sutlenterprise.com.

For enquiries, please contact:
Wrisney Tan, wrisneytan@august.com.sg
Zavier Ong, zavierong@august.co.sg
August Consulting Pte Ltd, +65 6733 8873.

Topic: Contract Awarded
Source: SUTL Enterprise Limited
Sectors: Daily Finance, Real Estate & REIT, Construct, Engineering, Marine & Offshore
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