Advanced takes big step towards new business
Engineering firm in oil and gas sector wins shareholders' okay to acquire minority stake in palm oil business
Add BT as a preferred source
Anita Gabriel
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
SINGAPORE'S mainboard-listed Advanced Holdings' compass is finally set for a big turn towards palm oil after the engineering services and equipment provider for the oil and gas sector won shareholders' go-ahead last week to acquire a minority share of Indonesian-based Agricore Global for S$15 million.
This is a much downsized deal, riddled with delays and costs Advanced about ten times less than the original intent two years ago to acquire the oil-palm cultivator lock, stock and barrel via a reverse takeover (RTO).
Copyright SPH Media. All rights reserved.
TRENDING NOW
From 1MDB to ‘corporate mafia’: Is Malaysia facing a new governance test?
Middle East-linked energy supply shocks put Asean Power Grid back in focus
Beijing’s calculated silence on the Iran war
DPM Gan warns of 3 structural shifts to the global system that will bring greater challenges – and opportunities
