Tiong Seng enters $14.5 million joint venture with two Japanese firms
Published on Jun 11, 2014 5:18 PM
SINGAPORE - Locally-listed Tiong Seng Holdings has joined forces with two Japanese companies to meet the demand for infrastructure in Singapore and Malaysia.
The construction firm will invest $6.4 million, through its wholly-owned subsidiary Robin Village International, into a joint venture with Geostr Corporation and Marubeni-Itochu Steel (MISP), the Singapore subsidiary of the Japanese firm.
Geostr Corporation is a unit of steel giant Nippon Steel & Sumitomo Metal Corporation.
Tiong Seng will own 44 per cent of the $14.5 million joint venture, while Geostr will have a 51 per cent stake. The remaining 5 per cent will be held by MISP.
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