Tai Sin subsidiary acquires 30% stake in Astar Lab for $0.9 mil

SINGAPORE (May 2): Tai Sin Electric says its wholly-owned subsidiary, Cast Laboratories, on Apr 30 acquired 30% of Astar Laboratory for $0.9 million from two of the lab’s vendors, with the option to purchase an additional 40% of the business.

Located at 3 Soon Lee Street, Astar Lab is a provider of environmental engineering services and laboratory testing services. Its net tangible assets (NTA) as at 30 June 2017 was $0.6 million with a profit before tax of $0.35 million.  

In a Wednesday announcement, Tai Sin says the acquisition comes as part of Cast Lab’s move to expand into laboratory testing and widen the range of tests it provides.

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