Tag Archive | "Malaysia"

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Tritech Group sells Terratech Marble Business

Posted on 01 February 2016 by cradmin

terratech marbleSingapore-based investment holding company, Tritech Group Ltd., announced that it will sell its shareholding interest in its subsidiary, Terratech Group. According to a statement from the company, Terratech has exclusive rights to develop, explore, extract, quarry, remove and sell marble products at the Kelantan Marble Quarry in Malaysia until January 26, 2044. An agreement was reached to sell the marble quarrying and processing business at a 29 percent stake to an independent third party. Chew Hoe Soon, non-executive chairman of SHS Holdings, will buy the business for $12.5 million, or seven Singapore cents per share. Tritech reported that the sale of Terratech would allow the company to focus on the expansion of its engineering services and water-related and environmental businesses.

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