PETALING JAYA: Rivertree STF Synergies Bhd (RSSB), has entered into a heads of agreement (HOA) with the shareholders of Q Centre Management Sdn Bhd (QCMSB), a centralised labour quarters (CLQ) operator, for the proposed acquisition of up to 100% equity interest in QCMSB
In conjunction with the proposed acquisition, RSSB also announced its proposed diversification of principal activities to include the management and operation of CLQs.
“Under the HOA, the parties will exclusively negotiate and finalise the terms of a conditional share sale and purchase agreement and other definitive agreements within six months from the date of the HOA, or such later date as may be mutually agreed upon by the parties.
“The purchase consideration will be mutually agreed upon based on an independent valuation of QCMSB and its subsidiaries, taking into consideration the outcome of the due diligence review on QCMSB,” said the property developer and construction service provider in a statement.
Incorporated in 2022, QCMSB is principally involved in the provision of accommodation as CLQs, provision of management services and letting of properties through its wholly-owned subsidiary, STF Saujana Sdn Bhd, and its 70%-owned subsidiary, Q Centre Management (Westport) Sdn Bhd.
Its expertise covers technology-driven facilities maintenance, tenant management and compliance monitoring, together with support services such as security, housekeeping and transportation coordination.
Operating under the ‘Q Centre’ brand, it presently manages facilities across the Klang Valley with a combined capacity of more than 3,000 beds, including Q Centre @ Port Klang Free Zone, Q Centre @ Sungai Kapar Indah I, Q Centre @ Sungai Kapar Indah III, Q Centre @ Klang Sentral, and Q Centre @ Telok Gong.
