SINGAPORE: Tritech Group Limited has announce that its wholly-owned subsidiary TGL Engineering Pte Ltd (TGL) entered into a sale and purchase agreement with Lim Wen Heng Construction Pte Ltd for the sale of 100% of the total issued share capital of Presscrete Engineering Pte Ltd.[the_ad id=”31605″]Presscrete is a wholly-owned subsidiary of TGL Engineering, which is itself a wholly-owned subsidiary of Tritech Group.
Payment of the Consideration will be secured by a personal guarantee from Lin Bing Cheng, major shareholder of the purchaser, Lim Wen Heng Construction, holding 94% shareholding interest in the purchaser, by way of a deed of guarantee to be executed as a condition precedent to completion.