TMK Chemical To Buy Land In Singapore For RM48.99 Mln

KUALA LUMPUR, March 13 (Bernama) -- TMK Chemical Bhd’s wholly-owned subsidiary, Chlor-Al Chemical Pte Ltd (CAL), will buy a parcel of land in Singapore from Chin Yuan Metal Pte Ltd (CYM) for S$14.80 million (S$1 = RM3.31).

In a Bursa Malaysia filing today, TMK said CAL accepted a CYM’s letter of offer dated March 4, 2025, on March 13, 2025.

It said the parcel of leasehold land is located on Tuas Street and includes a standard detached factory with a mezzanine office.

“Barring any unforeseen circumstances, the proposed acquisition is expected to be completed by the first quarter of 2026 (1Q 2026),” it said.

TMK said the proposed acquisition will facilitate TMK and its subsidiaries’ expansion of its Singapore operations.

“The proposed acquisition will not have any effect on the issued share capital of TMK nor on TMK’s substantial shareholders’ shareholdings in the company as it does not involve the issuance of shares in TMK.

“It is also not expected to have any material effect on the net assets, net assets per share and gearing of TMK Group for the financial year ending Dec 31, 2025, but is expected to contribute positively to the future earnings of TMK Group,” it added.

-- BERNAMA