Yoong Onn unit appoints contractor for RM41.18mil Singapore facility
KUALA LUMPUR: Yoong Onn Corp Bhd's 60 per cent-owned subsidiary TC Homeplus Pte Ltd has appointed Precise Development Pte Ltd for a S$13.16 million (RM41.18 million) contract to build a four-storey industrial facility in Singapore.
Yoong Onn Corp Bhd's subsidiary TC Homeplus Pte Ltd has hired Precise Development Pte Ltd to construct a four-storey industrial building in Singapore, valued at S$13.16 million (RM41.18 million). Bursa Malaysia reported this development, with the project involving a four-storey single-user industrial building at 18 Tampines Street 92.
The total cost will be partly covered by a S$9.6 million (RM30.05 million) term loan, with the remaining funds sourced from internally generated funds. Construction is scheduled to last 15 months, with completion anticipated on October 5, 2027. The new facility aims to broaden Yoong Onn's presence in Singapore and present an integrated complex featuring corporate offices and advanced warehouse facilities.
It is projected to enhance operations, bolster the supply chain, and elevate service efficiency. The site boasts convenient access to major expressways, public transport, and Mass Rapid Transit stations, alongside nearby commercial and residential zones. Despite its anticipated positive impact on efficiency, the project is projected to have minimal influence on Yoong Onn's earnings, net assets per share, or gearing for the fiscal year concluding June 30, 2027.
Written by urgent.news from New Straits Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
