Hatten Land Limited has announced its plans to resume trading on the SGX Catalist through a reverse takeover (RTO) of Metrocon Pte. Ltd., a geotechnical foundation engineering specialist, for S$28m. The acquisition, which is part of Hatten Land’s restructuring strategy, will be fully satisfied by issuing 107,705,689 shares at S$0.26 each to LBD Engineering Pte. Ltd., Metrocon’s vendor.
The proposed acquisition is set to be approved at an Extraordinary General Meeting on 22 July 2026. Upon completion, Hatten Land will be renamed Metrocon Holdings Limited, shifting its business focus entirely to geotechnical foundation engineering services. This move is expected to leverage Singapore’s robust construction and infrastructure pipeline.
Metrocon, established in 2016, is a BCA-registered Grade L5 contractor specialising in subsurface construction works. The company has a strong track record in handling technically demanding projects, including those within MRT and LRT zones. Metrocon’s founder, Alvin Lim, expressed confidence in the acquisition, stating it will provide the governance framework and capital market access needed for growth.
The transaction will also involve a compliance placement of up to 25 million new shares at no less than S$0.20 each to meet public float requirements. The enlarged group is valued at S$40m, with the vendor holding approximately 60.2% of the shares post-acquisition.
Metrocon plans to upgrade its contractor registration, expand its equipment fleet, and pursue strategic alliances to capitalise on Singapore’s ongoing construction boom.
