UNIVERSAL ENGEISHA Co., Ltd. agreed to acquire 75% stake in Mirage Green Pte. Ltd. from Ow Tai Yip and Ow Shujun Celia for SGD 3.1 million.
June 26, 2018
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UNIVERSAL ENGEISHA Co., Ltd. (JASDAQ:6061) agreed to acquire 75% stake in Mirage Green (Singapore) Pte. Ltd. from Ow Tai Yip and Ow Shujun Celia for SGD 3.1 million on June 27, 2018. A contract is expected to be concluded on June 27, 2018. UNIVERSAL ENGEISHA Co., Ltd. will acquire 75 shares of Mirage Green (Singapore) Pte. Ltd. Prior to the transaction, UNIVERSAL ENGEISHA Co., Ltd. did not hold any stake in in Mirage Green (Singapore) Pte. Ltd. and after the transaction, UNIVERSAL ENGEISHA Co., Ltd. will hold 75% stake in Mirage Green (Singapore) Pte. Ltd.
After the transaction, Mirage Green (Singapore) Pte. Ltd. will operate as a subsidiary of UNIVERSAL ENGEISHA Co., Ltd. Mirage Green (Singapore) Pte. Ltd. reported net assets of SGD 0.08 million and total assets of SGD 2.39 million as at March 31, 2018. Mirage Green (Singapore) Pte. Ltd. reported sales of SGD 7 million, operating profit of SGD 0.56 million and net income of SGD 0.56 million during the year ending March 31, 2018. The Board of Directors of UNIVERSAL ENGEISHA Co., Ltd. passed a resolution for the transaction on June 27, 2018. The transaction is expected to be completed on June 29, 2018.
UNIVERSAL ENGEISHA CO.,LTD is a Japan-based company primarily engaged in the green business. The Company operates in three business segments. The Green business segment is engaged in rental green business and horticulture related products handled business throughout Kansai area, Kanto area and overseas area. The Wholesale business segment is engaged in sales of artificial flower, exterior stone and decorative plant. The Retail business segment is engaged in sales of plant, decorative plant and gardening materials in shops.
UNIVERSAL ENGEISHA CO., LTD. 
