The Corporate & Financial Services Regulation practice group and Real Estate practice group of Harry Elias Partnership LLP recently advised Reclaims Global Limited in its acquisition of all of the equity interests in Lasidon Holdings Pte Ltd (“Lasidon”) from Sky Property Pte. Ltd. (“Sky Property” or the “Seller”) for an estimated consideration of S$38.8 million. Lasidon is the registered proprietor of Serangoon Building, a six-storey commercial building located at 291 Serangoon Road, Singapore 218107.
Reclaims Global Limited (NEX:SI) is a Singapore-based eco-friendly integrated service provider in the construction industry that is listed on the Singapore Exchange (Catalist), specialising in the recycling of construction and demolition (C&D) waste, customisation of excavation solutions and operating fleet management. Reclaims Global intends to use this property as an investment and represents their first foray into a diversified business to include that of property development, investment and management.
The Harry Elias team was involved in advising Reclaims Global Limited on all corporate regulatory, compliance and real estate matters. Partners Derick Ting and Legal Associates Kong Zhen Yong and Zane Chong (corporate) and Khaw Gim Hong (real estate) advised on the transaction.