Singapore Metal Component Tender

METAL Component Engineering has entered into an agreement to acquire 51 per cent of Asiafame Group for S8.4 million.The sellers are World Forum Development Limited and Gold Paradise International Limited.Asiafame Group wholly owns two subsidiaries incorporated in China that are primarily engaged in providing third-party testing and inspection services in China. The services provided include foundation inspection construction material inspection structural inspection and road and bridges inspection.The sale amount will be paid in two tranches. On the date of completion of the acquisition an aggregate amount of S4.9 million will be paid through the issuance of a non-convertible redeemable transferable zero coupon bond in the principal amount of S2.43 million. The bond will have a maturity of three years.