Ecowise Holdings Singapore had entered into a Share Transfer Agreement with Holcim (Singapore) Limited to incorporate Geocycle Singapore Pte Ltd as an indirectly wholly-owned subsidiary of Ecowise Holdings Singapore. Geocycle Singapore owns and operates Singapore’s largest waste copper slag processing plant.

As of December 31st 2016, the book value and NTA of Geocycle is at SGD 638,818 and the corresponding Net Loss after tax stood at SGD 3,023,818. The rationale for acquiring Geocycle was that Ecowise could utilise the machinery, equipment and assets that can be used in its other businesses and that the facility was situated adjacent to another of Ecowise subsidiaries and following the acquisition, Ecowise intends to derive business synergies and enhance efficiency of Geocycle while bringing cost saving at the same time for Ecowise group of companies.

The net consideration for the acquisition was SGD 9,570.52 and was arrived at willing-buyer and willing-seller basis. In addition, the Ecowise net loss for the first quarter of 2017 was SGD 1.22 Million with market capitalisation value of SGD 30.639 Million.

escveritasIndustrial Goods & SvcsMetals & Miningsecowise,geocycle,holcimEcowise Holdings Singapore had entered into a Share Transfer Agreement with Holcim (Singapore) Limited to incorporate Geocycle Singapore Pte Ltd as an indirectly wholly-owned subsidiary of Ecowise Holdings Singapore. Geocycle Singapore owns and operates Singapore's largest waste copper slag processing plant. As of December 31st 2016, the book value and...