HPC HOLDINGS (01742) plans to establish a joint venture company for the redevelopment project of properties in Singapore.

HPC HOLDINGS(01742) announced that on March 27, 2026, HPC Realty (a wholly-owned subsidiary of the company), along with joint venture partners LXP, CWT, O2 Realty, have entered into a joint venture agreement. According to this agreement, subject to approval by shareholders at a special general meeting, HPC Realty will join LXP, CWT, and O2 Realty in establishing a joint venture company. The purpose of setting up the joint venture company is to undertake a redevelopment project in Singapore, with the expectation of utilizing funds from the joint venture partners for this project. The joint venture company, to be jointly owned by HPC Realty and other joint venture partners, is registered for the acquisition of the property for the purposes of the redevelopment project. The business of the joint venture company and its subsidiaries will involve holding the property and any other ancillary businesses related to the acquisition and redevelopment of the property. The property consists of a plot of land (including four single-storey industrial buildings currently constructed on the land) located in the western end of Singapore, with a land area of approximately 108,822.1 square meters. The property is located at the Mukim 7 Property No. 4706A in Singapore, comprising of (1) 10 Tuas South Street 1, Singapore 637466, (2) 20 Tuas South Street 1, Singapore 637465, (3) 30 Tuas South Street 1, Singapore 637464, and (4) 40 Tuas South Street 1, Singapore 637463, mainly for industrial use. The directors believe that the acquisition of this property through the joint venture arrangement is an attractive investment opportunity for the group. Given the strategic location of the property, adjacent to the future mega port at Tuas (Singapore's next-generation mega port) expected to be completed in the 2040s and become the world's largest fully automated intelligent container terminal. The location is within a 15-minute drive of the Tuas West Road, Kalang, and Tuas Crescent MRT stations, with excellent road connectivity through the Ayer Rajah Expressway and Pan Island Expressway. The company believes that the property is situated in an emerging industrial hub with excellent redevelopment prospects, attracting enterprises in need of enhanced infrastructure and convenient access to key logistics and industrial nodes. The retained property intends to undergo further redevelopment (subject to necessary approvals) to create a new generation of green logistics and industrial facilities hub. The board believes that this redevelopment is expected to enhance the overall utility and competitiveness of the property and potentially support its value growth and/or improve the long-term commercial prospects of the property, creating potential returns for the company and its shareholders.