Daisan Co., Ltd. signed a share transfer agreement to acquire Mirador Building Contractor Pte. Ltd., Golden Light House Engineering Pte Ltd. and PM & I Pte. Ltd. from Koh Ah Nang, Soon Sing and Soon Wei Min for SGD 19.7 million.
April 21, 2019
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Daisan Co., Ltd. (TSE:4750) signed a share transfer agreement to acquire Mirador Building Contractor Pte. Ltd., Golden Light House Engineering Pte Ltd. and PM & I Pte. Ltd. from Koh Ah Nang, Soon Sing and Soon Wei Min for SGD 19.7 million on April 22, 2019. Daisan will acquire 80% stake in Mirador Building Contractor in first round, 10% stake in second, 5% in third and 5% in fourth. Koh Ah Nang holds 40% stake, Soon Sing holds 30% stake and Soon Wei Min holds 30% stake in Mirador Building Contractor. Daisan has entered into an agreement to acquire remaining 20% stake in Mirador Building Contractor Pte. Ltd from Soon Wei Min on May 7, 2020. Under the terms, 0.8 million shares will be acquired for 80% stake. Soon Sing holds 100% stake in Golden Light House Engineering Pte Ltd. and PM & I Pte. Ltd. On competition, Daisan will hold 100% stake in Mirador Building Contractor Pte. Ltd., Golden Light House Engineering Pte Ltd. and PM & I Pte. Ltd. The Board of Directors of Daisan resolved the transaction on April 22, 2019. The first round is planned to complete on May 10, 2019, second round in May 2020, third round in May 2021 and fourth round in May 2022. As on May 7, 2020, the transaction is expected to close on May 11, 2020.
DAISAN CO., LTD. is a Japan-based company principally engaged in the scaffolding construction business. The Company operates in two business segments. The Construction Services segment is engaged in the construction of wedge-type scaffoldings, the provision of safety consulting services, and the sale of scaffolding systems. The Product Sales segment is engaged in the manufacture and sale of building hardware and temporary equipment, as well as general temporary materials used for civil engineering works such as the construction of buildings and bridges. The Company is also engaged in the outsourcing business and insurance agency business.
Daisan Co., Ltd. signed a share transfer agreement to acquire Mirador Building Contractor Pte. Ltd., Golden Light House Engineering Pte Ltd. and PM & I Pte. Ltd. from Koh Ah Nang, Soon Sing and Soon Wei Min for SGD 19.7 million.