The Business Times
business-time-50

Tat Hong eyes A$800 million sale of Australian unit in review of strategic options

google-preferred-sourceAdd BT as a preferred source

Varun Karthik

Published Thu, May 18, 2023 · 03:51 PM
    • Australian media had reported that the group may seek at least A$800 million (S$713.89 million) for the sale of Tutt Bryant Group (TBG), based on valuations in recent transactions.
    • Australian media had reported that the group may seek at least A$800 million (S$713.89 million) for the sale of Tutt Bryant Group (TBG), based on valuations in recent transactions. PHOTO: BLOOMBERG

    SINGAPORE crane supplier Tat Hong could sell its Australian construction and heavy-equipment arm as it weighs its future Down Under, said group chief executive Roland Ng.

    The Australian Financial Review (AFR) had reported that the group may seek at least A$800 million (S$714.02 million) for the sale of Tutt Bryant Group (TBG), based on valuations in recent transactions. 

    AFR added that Tat Hong has brought in Bank of America to help facilitate the sale. 

    AustraliaConstructionSpotlight

    TRENDING NOW

    Why is Apac poised to become such a significant market for aviation?

    Asia-Pacific aviation: is up really the only way?

    Russian President Vladimir Putin (right) meeting Myanmar President Min Aung Hlaing (left) at the Grand Kremlin Palace in Moscow on Aug 18.

    Russia’s ‘pivot to Asia’ takes a turn as it prioritises ties with isolated regimes over bigger economies

    Professional oversight can help investors avoid emotion-led decisions, shares Chew Mun Yew, managing director and head of UOB Private Bank.

    Why disciplined stewardship matters when managing wealth in uncertain markets

    The programme aims to equip accountancy and corporate finance workers with practical skills to use AI effectively and responsibly.

    More than 15,000 sign up for national accounting body’s AI programme in two months

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More