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aws试用账号(www.2km.me)_Signature to venture into interior fit-out business

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Signature executive director Chiau Haw Choon said the acquisition would enable the group to provide a one-stop design-and-build solution to its existing customers and tap into Space Alliance’s commercial fit-out construction market.(File pic shows Signature International's kitchen cabinets)

KUALA LUMPUR: Signature International Bhd has proposed to acquire 765,000 ordinary shares, or 51% equity interest, in Space Alliance Contracts Sdn Bhd for RM15.3mil cash.

The move will enable it to expand into a full-fledged design-and-build interior fit-out business.

In a filing with Bursa Malaysia, Signature said it had signed a conditional share sale agreement with Chang Chung Fei and Ng Mun Moh to acquire 15.3% and 35.7%, respectively, in Space Alliance.

The acquisition is expected to be funded via internally-generated funds.

Barring any unforeseen circumstances, the exercise is expected to be completed by the second quarter of 2022.

Space Alliance is a Grade 7 contractor registered with the Construction Industry Development Board.

It is principally involved in building construction and renovation works of corporate offices, hospitality projects, residences, public amenities and others.

Signature executive director Chiau Haw Choon said the acquisition would enable the group to provide a one-stop design-and-build solution to its existing customers and tap into Space Alliance’s commercial fit-out construction market.

He added that the acquisition would allow Signature to have indirect access to the ongoing and future projects of Space Alliance, as well as diversify its customer base.

Since its incorporation, Space Alliance has completed about RM516.97mil worth of projects.

It is currently undertaking some RM171.14mil worth of projects with expected completion between January 2022 and September 2023.


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