PETALING JAYA: Eversendai Corp Bhd proposes to acquire a 70% stake in S-Con Engineering Co Ltd, a company incorporated in Thailand, as part of its plan to expand its foothold in the Southeast Asian region.
S-Con Engineering is involved in steel fabrication and plant construction, with over twenty years of experience.
In a filing with Bursa Malaysia yesterday, Eversendai said the acquisition will enable the group to bid for steel, composite structures, power and petrochemical plant, as well as infrastructure projects in Thailand and its surrounding regions.
Eversendai’s executive chairman and group managing director Tan Sri A.K. Nathan said the group has been looking to grow and explore business opportunities in Thailand where it foresees prospective projects that fit into its portfolio.
“We are confident that this venture can be used as a stepping stone to strategically position ourselves.”
“This is a marvellous opportunity for Eversendai to venture into Thailand with a ready infrastructure as we establish a potential additional future income stream,” he added.
Nathan said the proposed acquisition will also enable the group to utilise S-Con Engineering's track record to grow and strengthen its established working relationship with its international clients and undertake a range of projects in Thailand while also exporting fabricated works overseas.
Source: http://www.thesundaily.my/news/1627920
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