CNQC International (01240) said it agreed to acquire from controlling shareholder Guotsing Holding Group Co. Ltd property development and construction businesses in Singapore at HK$2,618 million.
The acquisition will enable CNQC International to expand from its existing foundation business in Hong Kong and Macao into property development and construction industries in Singapore. The integrated business model covering the full industry chain is expected to increase the cost efficiency and enhance the competitive advantages of the company. The fund raising and financing capabilities of the company will also be improved, which will pave the ways for the company to become the overseas financing and business development platform for Guotsing Group.
26/05/2015 10:50
CNQC Int'l to buy Singapore business from parent at HK$2.62b
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