Nihon Housing Co.,Ltd. completed the acquisition of a 80% stake in Propell Integrated Pte Ltd from Leng Yew Meng.
February 14, 2017
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Nihon Housing Co.,Ltd. (TSE:4781) agreed to acquire a 80% stake in Propell Integrated Pte Ltd from Leng Yew Meng on December 21, 2016. During the year ended June 2015, Propell Integrated Pte Ltd reported net assets of SGD 10.82 million, total assets of SGD 78.25 million, revenues of SGD 95.32 million and net income of SGD 1.2 million. The transaction is expected to close in February 2017. The second closing within 3 years from the first closing, the remaining 20% will be acquired to make PROPELL into a 100% subsidiary.
Nihon Housing Co.,Ltd. (TSE:4781) completed the acquisition of a 80% stake in Propell Integrated Pte Ltd from Leng Yew Meng on February 14, 2017.
NIHON HOUSING CO.,LTD. is engaged in real estate business. The Company operates in four business segments. The Condominium Management segment provides condominium management services, cleaning, equipment management and maintenance services, comprehensive management of condominiums, such as management union settlement and management assistance, and school childcare and study cram school operation business. The Building Management segment is engaged in building sanitary cleaning business, security business and comprehensive management of buildings. The Real Estate Management segment provides building management and rental management services for owner-owned properties, sub-lease business, real estate sales and brokerage business. The Repair and Maintenance segment provides large-scale repair work such as building and equipment repair work for common areas of condominiums and buildings and painting of exterior walls, renovation work and exclusive construction work for exclusive use parts.
NIHON HOUSING CO.,LTD. 