BRC Asia buys 19.1% stake in Angkasa for $16.1M

Post acquisition, BRC will own a 19.1% stake in Angkasa.

Mainboard-listed BRC Asia announced its proposed acquisition of 4.6 million ordinary shares in Angkasa Daehan Steel (Angkasa) for an initial consideration of $16.1m.

BRC Asia entered into a conditional sale and purchase agreement (SPA) with Daehan Steel (Daehan) and LTC Corporation (LTC), where BRC will acquire 4.6 million ordinary shares of Angkasa and Daehan will purchase the remaining 6.9 million shares from LTC.

Upon completion, BRC will hold 19.1% of the issued and paid-up share capital of Angkasa, whilst Daehan will hold the remaining 80.1% stake.

The acquisition will not have any material impact on either the net tangible assets per share or the earnings per share of BRC for FY2024, ending on 30 September.

Follow the link for more news on

Acquisitions

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia

Top News

Specialty chemicals manufacturing facility on Jurong Island for sale

The fully equipped facility is clean and ready to be recommissioned.

Commercial Property

5 hours ago

September surge masks looming export slowdown to 6% in 2027

Maybank raised its 2026 forecast to 27% from 18% in the same report.Non-oil domestic exports (NODX) growth could slow to 6% in 2027 as supply chain pressures and higher financing costs weigh on shipment momentum, Maybank Research Pte Ltd said.

Economy

9 hours ago

Nearly half of workers report six or more unpaid hours a week, report says