Japan's Kyowa Exeo to buy Singapore's Leng Aik Engineering
SINGAPORE, NNA - Japan's Kyowa Exeo Corp. will purchase Leng Aik Engineering Pte. Ltd. of Singapore as part of a global campaign to expand its telecommunications infrastructure engineering operations.
Kyowa Exeo recently signed a takeover deal for an undisclosed amount with the sale to be completed early this month, a Kyowa Exeo spokesman told NNA.
Leng Aik, established in 1999, has undertaken projects such as mass rapid transit, electrical engineering, refrigeration and ventilation work, fire prevention and protection systems, according to an email interview with the spokesman as well as the website of the Singapore government's Building and Construction Authority.
The Singaporean firm posted 25.5 million Singapore dollars ($18.5 million) in sales in the year to June this year, the spokesman said. The firm has a workforce of about 260 employees.
Kyowa Exeo is gearing up to boost overseas sales, setting up Exeo Asia Co. in Bangkok with four Japanese and local partners in January as a platform to expand its business in the Indochina Peninsula.
In Singapore, the Tokyo-based firm aims to boost its electrical engineering work capability in infrastructure work through the acquisition.
Kyowa Exeo's main clients at home are Nippon Telegraph and Telephone Corp. and its group firms, and it also serves other firms in urban infrastructure work and system solutions.
It merged with three smaller firms in the telecom infrastructure sector at home in October. Combined sales of the four companies total about 464.5 billion yen ($4.1 billion).
MG Exeo Network Inc., its Philippine unit established in 1991, has about 890 employees and offers them and others training before they are dispatched to other Asian countries. (NNA/Kyodo)