In the latest series of investments in the country, Shenzhen Investment and Financing Development Company has entered into an agreement to acquire a 29.99 per cent stake in environmental engineering firm Tritech Group, while ST Engineering’s land systems arm made a capital infusion of $10.2 million in SDG Kinetics.
Tritech sells stake to HK’s Shenzhen Investment
Shenzhen Investment and Financing Development Company, a subsidiary of Hong Kong Lead International Capital Group, has entered into an agreement to acquire a 29.99 per cent stake in Singapore’s environmental engineering firm Tritech Group.
Shenzhen Investment will pay a cash deposit of RMB 5 million (S$1.02 million) to Tritech within 10 working days for the subscribed shares, Tritech said in an exchange filing.
Shenzhen Investment will subscribe to an interest of not more than 29.99 per cent in Tritech’s share capital through a series of proposed private placement of new shares, it said.
The strategic investment agreement will see Tritech and Shenzhen Investment collaborate to permit Tritech to access the global capital networks of Hong Kong Lead International Capital.
Concurrently, Shenzhen Investment will assist in capital raising requirements and explore the launch of an environmental fund for any public private partnerships project Tritech secures in the China to support future corporate acquisitions.
ST Engineering injects S$10.2m into SDG Kinetics
ST Engineering’s land systems arm, ST Kinetics, has made a capital infusion of $10.2 million into SDG Kinetics (SGDK), it said in a statement on Tuesday.
This follows SDG Kinetics making a corresponding capital injection of the same amount into LeeBoy India Construction Equipment as working capital. The latest capital injection brings SDGK’s total investment in LeeBoy India to about S$54.5 million.
Headquartered in Bangalore, LeeBoy India designs and manufactures high-performance road construction and excavation equipment.
ST Kinetics, headquartered in Singapore, employs a skilled workforce of some 5,000 people to support customers in over 40 countries. In FY2016, the company recorded revenue of S$1.3 billion.