NewTimeSpace News: On March 19, 2026, BKM released an announcement stating that it has entered into a share sale and purchase agreement with two vendors and the warrantors to acquire the remaining 49% of the issued share capital of Asian Sealand, with RHT Capital Pte. Ltd. acting as the financial adviser for this transaction.

According to the announcement, the total consideration for the acquisition is approximately S$60 million, which consists of three parts: S$20 million to be paid by issuing 57,142,857 new shares, S$20 million to be paid in cash upon completion of the transaction, and the remaining maximum of S$20 million as deferred and contingent consideration, subject to the financial performance of Asian Sealand for the fiscal years 2026 and 2027.

Information shows that Asian Sealand was founded in 2007 and is mainly engaged in offshore repair and maintenance services. At present, BKM already holds a 51% stake in it and will achieve 100% ownership upon completion of the transaction. BKM stated that Asian Sealand is a core operating subsidiary of the group, and this acquisition will enable the full consolidation of its financial performance, boost the earnings attributable to shareholders, ensure management continuity, and strengthen the group's financial position and profitability.

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