Advancer Global (43Q:SES), an integrated services provider offering workforce solutions and services in Singapore, announced that its subsidiary SRE Global Pte. Ltd., has acquired 100% of the total issued and paid-up share capital of Propmag Management Services Pte Ltd and Propmag Property & Facility Pte. Ltd.

PMS and PPF are now wholly-owned subsidiaries of SRE and 82% indirectly owned subsidiaries of Advancer Global.

The total consideration of the purchase amounts to SGD 1.03 million (USD 564,721).

Advancer states that the acquisition is in line with the group’s strategy to expand its range of services within its building management business division and aims to achieve synergies between target companies and the group’s current property valuation, property management and property agency services.

The principal activity of both PMS and PPF is the provision of property management services.