PETALING JAYA: Sinotop Holdings Bhd is acquiring construction company Asianmax Corp Sdn Bhd (ACSB) from its director Datuk Justin Soo Sze Ching for RM96mil, as part of its strategic plan to expand and strengthen its infrastructure construction business to further enhance the group’s earnings.

In a filing with Bursa Malaysia yesterday, Sinotop said it had entered into a conditional share sale agreement with Soo yesterday to acquire the entire equity interest in ACSB.

“The proposed acquisition will provide immediate revenue and boost the earnings of Sinotop Group based on the ongoing projects of ACSB.

“Sinotop Group had ventured into the construction business in August 2016, which is operated under Gorgeous Goldhill Sdn Bhd (GGSB), a wholly-owned subsidiary of the company. GGSB is currently undertaking only small-scaled project management and construction works based on its existing limited resources,” it said.

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