Kyowa Exeo of Japan buys Singaporean engineering firm in bid to expand in Southeast Asia
SINGAPORE, NNA - Japanese engineering firm Kyowa Exeo Corp. has bought Singaporean peer Winner Engineering Pte. Ltd. as it plans to expand overseas.
Exeo Global Pte. Ltd., a Singapore-based wholly-owned Kyowa Exeo subsidiary overseeing the group’s Asian operations, signed a contract dated Oct. 7 to buy all shares in Winner Engineering, the Japanese company said in a press release on Wednesday. It did not disclose a purchase price.
Winner Engineering and Kyowa Exeo’s two other Singapore subsidiaries, Leng Aik Engineering Pte. Ltd. (LAE) and information and communications technology firm Beaqon Pte. Ltd., will provide “one-stop services” in data center installation, the press release said.
Winner Engineering has made and installed air conditioning and mechanical ventilation for buildings since 1989. It is capitalized at 1.5 million Singapore dollars ($1.1 million), the statement said.
Tokyo-based Kyowa Exeo moved into Singapore last year by buying LAE, a company that specializes in building services and electrical engineering. In January this year, Kyowa Exeo bought Singapore-based IT service management firm DeClout Pte. Ltd. and has made its group arm Beaqon wholly owned subsidiary.
The company is gearing up to boost overseas sales. Around Southeast Asia, Kyowa Exeo also does business in the Philippines and Thailand. It aims to keep growing in the Asia Pacific under Exeo Global’s lead, a spokesman in Tokyo said.