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Lian Beng buys 60% stake in United Tec Construction for $0.2 mil

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Lian Beng buys 60% stake in United Tec Construction for $0.2 mil

Michelle Zhu Published on Wed, Jun 27, 2018 / 8:14 AM GMT+8

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SINGAPORE (June 27): Construction group Lian Beng has acquired a 60% interest of United Tec Construction (UTC) from the company’s sole shareholder, Chew Hock Seng, for a purchase consideration of $0.18 million.

UTC specialises in the design for manufacturing and assembly (DFMA) construction.

Lian Beng says it is funding the acquisition internally, and intends to increase UTC’s existing share capital of $300,000 over 300,000 ordinary shares.

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