Singapore Land Group Limited Announces Proposed Acquisition of Prime Land Parcel at Marina Square

Overview and Key Highlights

Singapore Land Group Limited (“SingLand”) has announced that its indirect subsidiary, Marina Residential Development Pte. Ltd., has entered into four sale and purchase agreements (SPAs) to acquire a key land parcel located at 6 Raffles Boulevard. This acquisition involves a transaction value of S\$99.1 million and covers approximately 3,992 square metres of prime real estate within the prestigious Marina Square complex. The Marina Square complex is a prominent city-centre development comprising luxury hotels such as Pan Pacific Singapore, PARKROYAL COLLECTION Marina Bay, Mandarin Oriental Singapore, and the Marina Square Shopping Mall.

Details of the Transaction

The acquisition is structured as an internal reorganisation within the group, consolidating the land parcel under Marina Residential Development, which is a wholly-owned subsidiary of Marina Centre Holdings Private Limited (MCHPL). MCHPL itself is 77.34% owned by SingLand’s subsidiary, Singland Properties Limited, and 22.66% by UOL Group Limited (“UOL”), SingLand’s controlling shareholder.

The SPAs were executed with four vendors, all of whom are affiliated with SingLand and UOL. The purchase price was determined on a willing-buyer, willing-seller basis after arm’s length negotiations, and referenced a professional valuation conducted by CBRE Pte. Ltd. as of 31 October 2025. The transaction will be financed through internal resources, and completion is subject to regulatory approvals, including the demolition of structures and land subdivision. Completion is expected either four weeks after notification from the Registrar of Titles that the certificate of title is ready, or five years from the sale contract date, whichever is earlier.

Regulatory and Shareholder Implications

The acquisition is classified as an Interested Person Transaction (IPT) under Chapter 9 of the SGX-ST Listing Manual. SingLand’s effective interest in the transaction is calculated at 77.09% of MCHPL’s issued share capital. For the financial year ending 31 December 2025, the total value of all IPTs with UOL and its associates, including this acquisition, is approximately S\$358.9 million, representing 4.0% of the Group’s latest audited net tangible assets (NTA) of S\$8,968 million. The aggregate value of all IPTs for the year is S\$417.5 million. Importantly, as the aggregate value of IPTs with UOL does not exceed 5% of the Group’s NTA, no shareholder approval is required for the acquisition.

Rationale and Financial Impact

The acquisition is primarily an internal restructuring initiative, designed to consolidate ownership of the land parcel within a single, wholly-owned subsidiary of MCHPL. The Audit & Risk Committee reviewed the terms of the SPAs and concluded that the transaction is on normal commercial terms and does not prejudice the interests of the Company or its minority shareholders.

From a financial perspective, the transaction is not expected to have any material impact on the Group’s net tangible assets per share or earnings per share for FY2025. Nevertheless, given the strategic location and size of the land parcel, as well as the scale of the transaction, investors should monitor further developments, including any future utilisation or development plans for the land, which could have material implications for the Group’s value and share price.

Directors’ and Major Shareholders’ Interests

Notably, Mr Wee Ee Lim (Chairman and Director of SingLand and UOL) and Mr Liam Wee Sin (Director of SingLand and UOL, and Group Chief Executive of UOL) have declared their interests in the acquisition due to their directorships and shareholdings. No other directors or major shareholders are materially interested in this transaction beyond their existing roles.

Investor Considerations and Price Sensitivity

Key points investors should watch:

• The transaction involves a substantial sum (S\$99.1 million) and a prime land parcel in Singapore’s central business district, which could affect SingLand’s asset base and future development pipeline.
• The acquisition is part of a larger set of transactions with UOL and its associates, amounting to 4.0% of audited NTA for FY2025. Any future transactions pushing this aggregate value closer to the 5% threshold could require shareholder approval and prompt additional disclosures.
• No immediate impact on earnings or NTA per share is expected, but the strategic repositioning of assets could create future value, especially if the land parcel is redeveloped or utilised for high-value projects.
• Shareholders should monitor forthcoming announcements for any material developments related to this acquisition or the broader group’s business strategy.

Access to Documentation

Copies of the sale and purchase agreements and the CBRE valuation report are available for inspection at SingLand’s registered office by appointment for three months from the announcement date.

Conclusion

The acquisition of the land parcel at Marina Square is a significant internal restructuring move for Singapore Land Group, consolidating valuable assets in the heart of Singapore. Although the transaction does not require shareholder approval at this time and has no immediate financial impact, its scale and location make it potentially price-sensitive, especially if development plans are announced in the future.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors are advised to review official company disclosures and consult professional advisers before making investment decisions. The information herein is based on the most recent company announcement and may be subject to updates or changes.

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