, Singapore

Advanced Integrated Manufacturing acquires Whampoa Drive minimart

This is its first foray into the business.

Advanced Integrated Manufacturing will acquire a minimart located at Whampoa Drive for a total consideration of $1 million, the company said in a release to the SGX.

This is the group's first foray into the minimart space. The consideration will be satisfied by paying $0.8 million in cash and transferring 333,334 treasury shares to the vendor at $0.60 per share.

The acquisition is expected to provide an additional revenue stream for the group, and is part of its strategy to diversify and strengthen its operations.
 

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