SG brief: Metech International

A diamond. Photo by Tahlia Doyle on UnsplashA diamond. Photo by Tahlia Doyle on Unsplash

Metech International has entered a non-binding term sheet to acquire Finebuild Holdings, which owns a private lot on Singapore’s Pandan Road, from its shareholders Ang Poh Guan and Ang Poh Hwee, the company said in a filing to SGX Thursday.

Metech said it plans to use the property to build manufacturing facilities and/or a research and development lab as part of its strategy “to develop a full-service line and one-stop shop as regards group’s diversified business, from manufacturing to distributing lab-grown diamonds.”

The consideration for the deal is still under negotiation, the filing said.