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Coral Princess Cruises founder and managing
director Tony Briggs has just announced that Kallang Capital Holdings, a
Singaporean based company, has made a "substantial equity investment" in the
Australian small ship cruise line.
Briggs said the investment positions the business for future growth, with plans
to add to the current range of "pioneering cruising itineraries covering the
Great Barrier Reef, Western Australia's Kimberley, the South Pacific and South
East Asia".
The investment will see several enhancements to the existing fleet of three
vessels over the next year, commencing with a refurbishment of the 44-passenger
Coral Princess II which will be completed by February 2015.
The existing Coral Princess management team, led by Mark Fifield, will remain in
charge of the Cairns-based operation, and it is "very much business as usual"
with all existing bookings, trade relationships and commitments to continue
unchanged.
The investment is "part of a planned transition" by Briggs and his wife Vicki.
Briggs remains a director of the company and they also retain a 10% shareholding
in the business.
Kallang Capital Holdings is a holding company controlled by the founders of
Singaporean financial services group Primepartners as well as Paul Chacko, and
represents the interests of several Singaporean family offices, providing
management support to "promising scaleable businesses in Singapore and across
the region". |
