Food caterer Neo Group to diversify into property business with Boldtek JV

Operating in Singapore and Malaysia, Boldtek provides general building services, runs a precast manufacturing plant, and has a property development and investment business. It also has interests in soil investigation and treatment.

Besides, there are potential synergies, as the property-related assets under the new division may be leased to its existing food businesses so as to reduce possible rental disruption with third-party landlords. Another benefit of the proposed business is a more diversified business and income base, which will reduce reliance on the existing business, it added.

Boldtek did not have any property development projects in the pipeline as at Friday, and the segment accounted for just 1.8 per cent of group revenue in FY2019.

United States United States Latest News, United States United States Headlines

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

Axington postpones EGM, company linked to group in Newcastle takeover bid cites 'recent media developments'Axington postpones EGM; company linked to group in Newcastle takeover bid cites 'recent media developments'
Source: The Straits Times - 🏆 8. / 63 Read more »

China to import US$300 billion of chips for third straight year - industry groupChina is likely to import at least US$300 billion worth of semiconductors for the third year running, an industry association official said, in a ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »