Kuala Lumpur: TMK Chemical Bhd’s subsidiary, Chlor-Al Chemical Pte Ltd (CAL), is set to purchase a parcel of land in Singapore from Chin Yuan Metal Pte Ltd (CYM) for S$14.80 million (S$1 = RM3.31).

According to BERNAMA News Agency, TMK disclosed in a Bursa Malaysia filing that CAL has accepted a letter of offer from CYM dated March 4, 2025, with the acceptance occurring on March 13, 2025. The land, located on Tuas Street, includes a standard detached factory featuring a mezzanine office.

The company anticipates that the acquisition, pending unforeseen circumstances, will be finalized by the first quarter of 2026. TMK expressed that this acquisition is aimed at enhancing the expansion of its operations in Singapore.

The acquisition will not impact TMK’s issued share capital nor the shareholdings of its substantial shareholders, as it does not involve issuing new shares. Additionally, the deal is not expected to materially affect TMK Group’s net assets, net assets per share, or gearing for the financial year ending December 31, 2025. However, it is projected to positively contribute to TMK Group’s future earnings.