Investment in Mlion Corporation, a Leading Civil Engineering and Construction Materials Distributor in Singapore
Oct 01, 2024
Nippon Steel Trading Corporation (hereinafter referred to as "our company") is pleased to announce that we have decided to invest in Mlion Corporation Pte, Ltd (headquartered in Singapore, CEO: Leong Jia-Le, Eric, hereinafter referred to as "Mlion"), a rapidly growing distributor of civil engineering and construction materials (mainly steel sheet piles) in the Philippines and Singapore.
*Please note that the execution of this investment is subject to obtaining approvals from relevant authorities and the fulfillment of other conditions stipulated in the share purchase agreement.
1. Overview of the Investment
Mlion, which holds a significant market share in the major demand areas for civil engineering and construction materials (mainly steel sheet piles) in ASEAN, specifically Singapore and the Philippines, has requested our participation in their capital to expand their business. We have been considering this request for some time. Through this strategic collaboration with Mlion, we aim to capture the growing demand for civil engineering and construction materials infrastructure in the ASEAN region, thereby strengthening our group's overseas business foundation and contributing to the enhancement of Mlion's corporate value.
2. Purpose of the Investment
(1) Expansion of our presence in the ASEAN civil engineering and construction materials market
(2) Capturing infrastructure demand in ASEAN
(3) Multifaceted contribution to the "Overseas Civil Engineering and ConstructionMaterials Strategy" of the Nippon Steel Group
By deepening our collaboration through this capital participation, we will leverage Mlion's sales and procurement network, inventory functions, and processing capabilities to capture demand related to energy and infrastructure in the ASEAN region. We will also work to expand sales of not only general-purpose products but also high-performance products and increase orders for ODA projects, thereby contributing multifacetedly to the Nippon Steel Group's “Overseas Civil Engineering and Construction Materials Strategy."
3. About Mlion Corporation
Since its establishment in 2011, Mlion has been expanding its business with a strong focus on technical proposal sales, mainly in the sale of steel sheet piles. Over the past decade, it has grown into a leading steel distribution company in the ASEAN region, boasting the top handling of steel sheet piles in the five major ASEAN countries (Singapore, the Philippines, Indonesia, Thailand, and Malaysia).
Mlion is considering further business expansion into other ASEAN countries and has requested our participation in their capital to strengthen their business structure and build a collaborative framework with new business partners for efficient business development.
Additionally, Mlion has been awarded the "ENTERPRISE50," which is given to the top 50 private companies in Singapore, for five consecutive years since 2019, earning high recognition as a company contributing to Singapore's development.
(Reference)
Company Name : Mlion Corporation Pte, Ltd
Established : October 2011
CEO : Leong Jia-Le, Eric
Capital : 734,259 USD
Location : 21 Bukit Batok Crescent #29-76 WCEGA Tower, Singapore, 658065
Business Description: Sales of civil engineering and construction materials (steel sheet piles)
Employees : 106
Sales Offices : Singapore, the Philippines, Malaysia, Indonesia, Thailand, Middle East, China
URL : https://mlioncorp.com/
At signing ceremony, Mr. Leong Jia-Le, Eric(CEO of Mlion) and Shinichi Nakamura (President of NIPPON STEEL TRADING)
*Inquiries regarding this release:
Corporate Communications Section
General Affairs & Corporate Communications Department
NIPPON STEEL TRADING CORPORATION
TEL: +81-3-6772-5003 FAX: +81-3-6772-5401