Tomo Holdings (06928) plans to sell a property for 1.523 million Singapore dollars.

TOMO HOLDINGS (06928) announces that on March 30, 2026, the seller Tomo-CSE Autotrim Ptd Ltd (an indirect wholly-owned subsidiary of the company) has entered into an agreement with the buyer Siti Adilah Abu Bakar, whereby the seller has granted the buyer an option to purchase the property for a total price of 1.523 million Singapore dollars, plus the prevailing Goods and Services Tax in Singapore. The directors are aware and confident that the buyer is expected to exercise the option within the option period. The property to be sold by the seller is located at #02-05, Premier@Kaki Bukit, 8 Kaki Bukit Avenue 4, Singapore 415875. It is a ramp-up industrial unit with production area, mezzanine office area, and separate toilet, with a total floor area of approximately 283.0 square meters. The property is situated on the second floor of an eight-story multi-user ramp-up light industrial building, which is one of the two buildings in Premier@Kaki Bukit, completed in 2014. The company plans to establish a retail store in Singapore for automotive appearance and maintenance center, offering services such as car wrapping, detailing, and paint correction. The company will develop a new consumer-facing brand name, logo, and marketing assets, and provide services to customers who visit the retail unit strategically located for high visibility. After the retail store is established, the company will initiate marketing activities to increase customer flow and sales performance. The initial investment includes inventory of high-quality wrapping films, ceramic coatings, and detailing products, as well as costs related to recruitment and training of retail frontline staff. Depending on business progress, the company will expand its operations through initiatives such as loyalty programs, development of mobile applications, and performance marketing to further enhance sales performance. With the upgrade and expansion of the existing business, the directors expect improvement in operational and financial performance. On the other hand, the group only earns limited rental income from the property, which is not beneficial in the long run. Considering the premium over the property valuation and the need for funding to expand the existing business, the directors believe that the sale of the property is an opportunity for the group to realize its investment in the property and further develop its business. Therefore, the directors believe that the terms of the agreement are made on normal commercial terms, fair and reasonable, and are in the overall interest of the company and its shareholders.