Hisaka in $127m RTO deal with Regal Int'l

Singapore

HISAKA Holdings has signed a conditional agreement to buy Regal International in a $127.3 million reverse takeover deal that would transform the automation solutions provider into a Malaysian property development firm.

The move comes in anticipation of a "challenging" fiscal year in 2014 as the semi-conductor sector it operates in continues to be volatile with no imminent signs of recovery, it said.