Riyadh – Mubasher: Red Sea Housing Services Company (RSHC) announced that a subsidiary located in Jebel Ali, Dubai, concluded an agreement on Friday for the takeover of 90% of Malaysia’s AM Modular Sdn Bhd.
The takeover value of $7 million will be paid in two portions; $3 million this year and $4 million in equal annual installments over the coming three years, the company noted.
The Tadawul-listed company indicated that the deal’s financial impact would reflect on financial statements as of the second quarter of this year, expecting a boost in revenues by more than SAR 100 million in 2016.
