Koon Holdings has entered into the public housing market with the acquisition of ECI Corporation (ECIC) worth $3.75 million.
Koon and JKM Engineers have jointly purchased ECIC from Jasper Investments.
The sale and purchase agreement is valued at $5 million.
Koon will have a 75 percent share in ECIC, while JKM holds the remaining 25 percent.
ECIC is an approved precaster for HDB projects.
The firm’s grading permits it to tender for private and public projects for an unlimited value.
The wide range of precast products of ECIC can be found in a series of HDB developments and upgrading works at Clementi, Punggol and Sengkang.
Currently, the company has about $10.9-million worth of projects on hand.
The acquisition was completed on March 25 and is anticipated to have a positive effect on the performance of the group this year.