Sarawak based engineered solutions provider Pansar Bhd has entered into a conditional share purchase agreement with PE Holdings Sdn Bhd to acquire 100% of Perbena Emas Sdn Bhd for RM151 million, to diversify into construction and civil engineering.
Each RCPS carries a dividend rate of 4% a year based on the indicative issue price of 53 sen during the tenure of the RCPS. Pansar will raise the rest of the financing for the acquisition through new debt facilities. Upon completion of the proposed acquisition, Pansar anticipates that the revenue and earnings stream from Perbena’s core business of construction and civil engineering to contribute substantially to its net assets and net profits.
“We anticipate that there will be an increase in the number of civil and infrastructure development projects up for tender in East Malaysia, and with the expertise and experience of the management team in Perbena, we hope to tap into these opportunities.”
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