OEL acquiring firm in oil and gas business
Proposed 51% stake in Allied Resources part of diversification strategy
Add BT as a preferred sourceSingapore
IN a bid to generate new income streams and to diversify from its businesses in shipyard operations and property management, Catalist-listed OEL (Holdings) has struck a deal to acquire 51 per cent of Allied Resources, an investment holding company with interests in the oil and gas business.
The consideration is about S$18.2 million.
TRENDING NOW
DBS COO’s most important tip for AI transformation: Lead with ‘why’
Vietnam seeks US$76 billion a year from capital markets to ease reliance on banks
Too little, too late? Manila’s billion-dollar bid to ignite its sputtering EV industry
Two-thirds of Sentosa Cove resales in the red, with average loss topping S$1 million since 2023
