Japanese engineering firm Mirait to buy 85 percent of Singapore’s YL Integrated
SINGAPORE, NNA – Japanese engineering firm Mirait Holdings Corp. will acquire a majority 85 percent stake in Singapore’s electrical engineering company YL Integrated Pte. Ltd. as part of its global expansion.
The Tokyo-listed company, which announced the purchase at an undisclosed amount in a statement on Friday, said the transaction will be carried out by Lantrovision Singapore Ltd., Mirait’s core subsidiary in Singapore.
Lantrovision, which runs a global operation for Mirait, has developed information and telecommunications infrastructures, mainly LAN wiring works, maintenance and consulting services, in 28 cities across 13 countries and regions.
Mirait, which acquired the Singapore firm in 2016, said Lantrovision will team up with YL Integrated to provide cable works at data centers as well as electrical engineering services.
Established in 2010, YL Integrated posted a net profit of 3 million Singapore dollars ($2.15 million) on sales of SG$25.8 million in the past financial year, according to the statement by Tokyo-based Mirait.
Mirait, which has provided services to Japanese telecommunications giant Nippon Telegraph and Telephone Corp. group, has been engaged in comprehensive engineering works in over 100 countries and regions since the 1970s.