SMHB Merger with HSS Engineers Bhd.
On 29 September 2017, HEB Group had proposed the acquisition of SMHB Engineering Sdn. Bhd. which holds 30% equity in SMHB Sdn. Bhd. an engineering consultancy firm, with an exclusive teaming arrangement with the firm (SMHB Sdn. Bhd.).
The acquisition exercise of SMHB was eventually concluded on 28 March 2018, hence SMHB Engineering Sdn. Bhd. became 100% subsidiary of HSS Engineers Bhd. and all the firm’s (SMHB Sdn. Bhd.) assets and employees were transferred to SMHB Engineering Sdn Bhd. HSS Engineers Bhd. through SMHB Engineering Sdn. Bhd. held 30% of shares in SMHB Sdn. Bhd. SMHB Engineering Sdn. Bhd. is now the operating company while SMHB Sdn. Bhd. is an associate company.
Datuk Ir. Teo Chok Boo and Ir. Prem Kumar A/L M Vasudevan of SMHB Engineering Sdn. Bhd. were subsequently appointed as Executive Directors to the Board of Directors of HEB on 15 May 2018, followed by En. Ir. Syed Mohamed Adnan bin Mansor Alhabshi as Alternate Director to Datuk Ir. Teo on 21 February 2019, thus sealing the agreement at the top management level.
[LINK TO HSS ENGINEERS BERHAD WEBSITE]
