Kanger International confident of returning to black in FY22, driven by construction business | Malay Mail

KUALA LUMPUR, Aug 3 — Kanger International Bhd is confident of returning to the black in the coming financial year ended March 31, 2022 , driven by the group’s new construction division, as it has secured projects with total order book of RM1 billion.

“To enhance the group’s competitive edge in the construction business, Kanger’s acquisition of a 51 per cent stake in building materials supplier Sung Master Holdings Sdn Bhd will contribute positively to the group in terms of financial performance, as well operational synergies. The acquisition of Sung Master has been approved by shareholders and the purchase is expected to be completed within the next month, Kanger said.

Kanger executive director Steven Kuah Choon Ching said the group will expand its construction business by undertaking building construction, civil engineering and project management contracts as a main contractor or sub contractor moving forward.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Pecca Group to take over Rentas Health for RM100m as it eyes healthcare business | Malay MailKUALA LUMPUR, Aug 2 — Pecca Group Bhd has proposed to acquire 204,000 ordinary shares, or a 51 per cent equity stake in Rentas Health Sdn Bhd, for RM100 million. This comes as the company plans to go into healthcare-related businesses. Pecca told the stock exchange that the purchase consideration...
Source: malaymail - 🏆 1. / 86 Read more »