Link: https://links.sgx.com/1.0.0/corporate-announcements/EH847TBBDYZUCBDY/c30efcd3df01b8be0785f5cfe2bb596a0e42a71f48d69645371ca7617e227127

Summary:

• HG Metal’s unit HG Construction Steel has exercised an option to purchase a leasehold industrial property at 47 Tuas View Circuit for S$20.8 million on a willing-buyer willing-seller basis.

• The 30-year leasehold site, with about 12 years remaining and land area of roughly 24,164 square metres, comes with office, production buildings and factories, plus existing plant and equipment to support operations.

• The acquisition will be funded via internal resources, bank borrowings and proceeds from past rights issues and placements, and is aimed at expanding production facilities, storage capacity and value-added services.

• Management says the new site will relieve capacity constraints at the near-fully utilised Jalan Buroh facility and position the group to capture sustained construction demand projected at S$39–46 billion annually over 2026–2029.

• Completion is conditional on JTC approvals, satisfactory legal searches and, if required, environmental assessments and any decontamination works to be undertaken by the vendor at its own cost.