Tiong Seng acquires two vacant land plots in Johor for $10 mil

SINGAPORE (June 18): Construction group Tiong Seng Holdings says its subsidiary Robin Village Development has agreed to fully acquire Malaysia-incorporated firm Kinsbina – which in turn owns two vacant plots of land in Mukim Rimba Terjun, Daerah Pontian, Negeri Johor – for RM29.9 million ($10 million).

This comes as part of the group’s plans to expand its production capacity and capabilities in pre-cast manufacturing and prefabrication, says the group in its filing on Monday.

Tiong Seng intends to fund the acquisition via a combination of internal resources and bank facilities.

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