Red Sea Housing Services Company (Red Sea) announced that its Dubai-based subsidiary had signed an agreement to acquire 90% of AM Modular Sdn Bhd, Malaysia, a designer and manufacturer of prefabricated modular buildings. The total value of the transaction is USD7 million, of which USD3 million will be paid in a down-payment this year, while the remaining USD4 million to be paid over three annual installments. Management expects the acquisition to bring in more than SAR100 million in revenue in 2016. This deal will be internally financed. The financial impact of this acquisition is expected to be seen starting 2Q2016. (Tadawul)