Your browser is no longer supported

For the best possible experience using our website we recommend you upgrade to the newest version of your browser.

Your browser appears to have cookies disabled. For the best experience of Construction News, please enable cookies in your browser.

Welcome to the Construction News site. As we have relaunched, you will have to sign in once now and agree for us to use cookies, so you won't need to log in each time you visit our site.
Learn more

19May94 REPUBLIC OF IRELAND: MALAYSIANS TO COMPLETE KENTZ FORAY - 60% STAKE.

Malaysian investors are expected to take control soon of the troubled Irish contractor Kentz Corporation.The group of Malaysian investors, led by former Renong employee Lee Tok Fook, will control 60 per cent of Kentz in return for an investment reported to be around £6.5 million.The deal is seen as a bargain for the Malaysians: for 60 per cent of the Kentz Botswana subsidiary, the consortium will pay just £75,000. It was valued at £1.1 million three months ago.The holding company of Kentz will be the Channel Island-registered Pinacere, which will raise £1.5 million in loans.It is believed that, once the company is restructured, it will have working capital of around £2.5 million. It is expected that Kentz will apply to be released from court protection. CONSTRUCTION NEWS