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Rich Capital to pay S$33.7m instead of S$44m for acquisition of 2 building firms
This takes into account a revised valuation report of the 2 firms issued by independent valuer BDO Advisory
Add BT as a preferred sourceNg Ren Jye
Published Wed, May 8, 2019 · 09:50 PM
Singapore
CATALIST-LISTED Rich Capital will acquire two construction firms owned by its controlling shareholder and chairman Wang Zhen Wen, and Rich-Link Group (RLG) for S$33.7 million instead of a previously agreed price of S$44 million.
The revised price for Rich-Link Construction (RLC) and Rich-Link Builders (RLB) under this interested person transaction is lower than the initially agreed amount by 23.4 per cent.
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