Aedge Group launches engineering JV to target marine and construction sectors

Initial investment funded through Aedge’s internal resources.

Aedge Technologies Pte. Ltd.—a wholly owned subsidiary of Aedge Group Limited—has entered into a joint venture (JV) arrangement with S&P Manpower Pte. Ltd. and BSC Projects Pte. Ltd. under the JV company name ASP E&C Pte. Ltd.

The JV will focus on providing engineering, construction, and project-related support services to third-party clients across the construction, marine, and process-related sectors, aligning with Aedge’s strategy.

Aedge’s investment in the JV company will be funded through the group’s internal resources, whilst future funding requirements will be addressed as required, according to an SGX filing.

Under the shareholders’ agreement, shareholders must first offer any shares for sale to existing partners on the same terms, whilst partners have a 21-day window to exercise their optional pro-rata right to purchase.

Shareholders also have a 21-day “co-sale” right to participate in any third-party sale, allowing them to sell a proportionate number of shares on the same conditions.

A shareholder holding more than 50% of the issued shares who sells its entire stake may require all other shareholders to sell their shares to the same buyer on the same terms.

The board of directors of the JV company shall consist of up to two directors, with Aedge having the right to appoint up to one director as Chairman, who shall have the casting vote, whilst S&P may also appoint up to one director.

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