Turbo-Mech unit buys Singapore property for S$8.1m
Thursday, 15 January 2015
KUALA LUMPUR: Turbo-Mech Bhd’s unit in Singapore is expanding its operations in the island republic with the purchase of a property for S$8.1mil.
It said on Thursday its unit Turbo-Mech Asia Pte Ltd was buying a piece of property at 22, Joo Koon Circle, Singapore from Well Transport And General Contractors Pte Ltd.
“Subsequent to the proposed acquisition, the property will be used as a workshop,” it said.
Turbo-Mech Asia supplies rotating equipment including centrifugal pumps, metering pumps, high pressure gas compressors, high pressure pumps, steam turbines, industrial cooling fans and spare parts.
Well Transport’s principal activity is process engineering and transportation services.
Turbo-Mech intends to finance the purchase price through a combination of bank borrowings (about 60%) and from the company’s own funds (about 40%).