Business briefing

Sino Construction buys 60% stake in M'sian firm

SINO Construction Ltd has bought a 60 per cent stake in privately owned Malaysian construction company Elite Bay Sdn Bhd for RM300,000 (S$114,390). Sino Construction said the acquisition would enable it to leverage on Elite Bay's presence in Malaysia to tender for more contract works. Elite Bay has, together with its associate company Pembinaan HKL Sdn Bhd, completed projects such as Sarikei Hospital, army quarters in Pulau Indah, Albukhary Higher Learning Centre, nursing quarters for Kuala Lumpur Hospital and other residential sites.

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