SINGAPORE (June 20): Rowsley, the real estate developer owned by Singapore billionaire Peter Lim, says wholly-owned subsidiary RSP Architects Planners & Engineers has agreed to buy the remaining 65% of Squire Mech for up to $19.5 million.

RSP currently owns 35% of Squire Mech, mechanical and electrical engineering firm.

The acquisition will funded through the issue of up to 130 million Rowsley shares at 15 cents a share. The total consideration of up to $19.5 million is subjected to certain terms and conditions, including Squire Mech meeting a three-year cumulative net profit after tax target of $12 million from July 1 to June 30 2019.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook