TOMO Sells Singapore Industrial Unit for S$1.52 Million to Fund Auto-Care Expansion

Bulletin Express03-30 19:07

TOMO Holdings Limited (TOMO) has agreed to dispose of an industrial property in Singapore for S$1.52 million (approximately HK$9.30 million). The purchaser, Ms. Siti Adilah Abu Bakar, has until 15 May 2026 to exercise the option, having already paid S$15,230 in option money. A further S$60,920 is due upon exercise, with the remaining S$1.45 million payable at completion.

The asset, Unit #02-05 at Premier@Kaki Bukti, is a 283 sq m ramp-up industrial unit comprising production space, a mezzanine office and a private toilet. Completed in 2014, the unit generated rental income of S$0.06 million in both 2024 and 2025. An independent valuer assessed the property at S$1.52 million on 28 February 2026, broadly in line with the agreed consideration.

TOMO expects to record an unaudited disposal gain of about S$0.06 million, based on the asset’s net book value of S$1.46 million at 31 December 2025. Proceeds are earmarked mainly for business expansion: roughly S$1.10 million will fund the launch of a consumer-facing auto appearance and care centre in Singapore, while about S$0.40 million will be retained as general working capital.

The transaction meets the requirements of a discloseable transaction under Hong Kong Listing Rules, with all percentage ratios below 25 %, and therefore does not require shareholder approval. TOMO’s board views the disposal as an opportunity to monetise a non-core asset and reinforce the group’s strategic focus on its automotive parts, motor vehicle trading and related service businesses.

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