In needs to raise working capital for the revamped business, our client is seeking investor to raise S$1M; S$500K in the form of Equity and S$500K in loan, in exchange for a controlling stake in the Company.
Description
Our client (“The Company”) was established in 2012 and is well known in Singapore Construction Industry as a specialist in cranes. Prior to its incorporation in 2012, the Founder headed the Equipment and Logistics Division of a public listed construction company, overseeing 90 employees. As the General Manager of the Division, he grew the Division from 2 to 60 Cranes.
The previous business was primarily the leasing of Cranes supporting mainly the Shipping and Construction Industry. The previous business was impacted by the severe slowdown in the Shipping Industry and completion of few big-scale construction projects such as MCE, Marina Bay Sands, Marina Barrage and the various new water plants.
In response to the market shift, the Company has restructured its business and ceased the previous leasing business. Tapping on its rich experience and network in the industry, it has turned to be an equipment reseller and distributor.
The Company also has a stable team of experienced mechanics to provide after-sale services as well as to continue the Crane support services including repair and maintenance as well as dismantling and erection of cranes.
To leverage on the mandatory installation of data logger in cranes by the Malaysia government, specifically The Department of Occupational Safety and Health, it has set-up a Joint-Venture company in Malaysia to supply and install data loggers for the Malaysia market. The company has 60% equity interest in this JV company.
Singapore
