SINGAPORE - Mainboard-listed technology solutions provider CSE Global said Heliconia Capital Management, a wholly-owned subsidiary of Temasek Holdings, has emerged as its substantial shareholder following the acquisition of a 25.03 per cent stake through a married deal with Malaysia's Serba Dinamik International Ltd.

With Heliconia as a key stakeholder, CSE Global hopes to leverage Heliconia's network and expertise to support its growth plans, the company said in an exchange filing on Tuesday (July 7).

Following the acquisition, Heliconia has requested that CSE Global consider appointing its chairman Lim How Teck and its and chief executive officer Derek Lau as non-executive directors to its the board of directors. The request is currently being reviewed by the CSE Global's nominating committee and the board.

CSE Global CEO Lim Boon Kheng said: "We welcome Heliconia as a strategic investor. The emergence of Heliconia as a substantial shareholder is a strong testament to our business proposition and track record. The Group will be in a stronger position to expand our businesses both in the Singapore and overseas markets with a strong institutional shareholder base."

CSE Global focuses on providing and installing a variety of control systems, as well as turnkey telecommunication network and security solutions, for the oil and gas, infrastructure and mining industries. It has also extended its capabilities to new growth areas such as the Smart Cities projects.

As of March this year, it derived more than 65 per cent of revenues from the O&G segment, with more than 90 per cent of customers coming from the US. On the infrastructure side, clients include government agencies, utilities, ports, railways and airports.

The group has now more than 1,400 employees worldwide, and operates a network of 41 offices across the globe.

CSE Global closed up 1.5 cents or 3.4 per cent to 46 cents on Tuesday.