TA Corporation Ltd. Extraordinary General Meeting (EGM): Key Highlights and Shareholder Implications

Summary of EGM Proceedings

On 29 January 2026, TA Corporation Ltd. conducted its Extraordinary General Meeting (EGM) at the Seletar Country Club, Singapore. The meeting was attended by several members of the Board, including Mr. Neo Tiam Boon (Executive Chairman and Group CEO), Mr. Fong Heng Boo (who chaired the meeting), and Mr. Pang Teng Tuan. The CFO and both company secretaries were also present, along with shareholders and invitees.

Key Resolution: Ratification of Interested Person Transaction

The central item on the agenda was the ratification of an interested person transaction: the award of a S\$39.7 million contract to Cornerstone Builders Pte. Ltd. by Matsushita Greatwall Corporation Private Limited. The contract is for the proposed erection of a 6-storey single-user industrial building at Sungei Kadut Street 2.

• Contract Value: S\$39.7 million
• Project: New erection of a 6-storey, single-user industrial building
• Location: Sungei Kadut Street 2, Singapore
• Parties Involved: Contract awarded to Cornerstone Builders Pte. Ltd. by Matsushita Greatwall Corporation Private Limited
• Nature of Transaction: Classified as an interested person transaction under SGX Listing Rules

Governance and Voting Procedures

The EGM strictly adhered to corporate governance protocols:

• Abstention: Directors and associates involved in the transaction (including Mr. Neo Tiam Boon, Mr. Liong Kiam Teck, Mr. Neo Tiam Poon, and Mr. Neo Thiam An) abstained from voting to avoid conflicts of interest.
• Proxy Voting: The Chairman, acting as proxy for shareholders, voted according to their specific instructions.
• Polling Process: Conducted by manual poll with Gong Corporate Services Pte. Ltd. as scrutineer and B.A.C.S. Private Limited as polling agent.
• Shareholder Engagement: No questions were received from shareholders by the pre-announced deadline, and no additional queries were raised during the meeting.

Poll Results and Outcome

The resolution to ratify the contract was unanimously approved by all eligible voting shareholders, with 100% voting in favor and none against. The meeting was concluded at 11:30 a.m.

Shareholder Implications and Potential Price Sensitivity

Key Points that May Affect Share Value:

• Significant Contract Secured: The S\$39.7 million contract represents a substantial project that could positively impact TA Corporation’s revenue and earnings in the coming periods.
• Corporate Governance in Focus: The abstention of interested directors and associates underscores TA Corporation’s compliance with SGX Listing Rules and commitment to transparent governance, which may enhance investor confidence.
• Project Scale: The construction of a large, single-user industrial facility can have long-term implications for the company’s construction portfolio and market positioning.
• No Dissent: The absence of opposition in voting suggests strong shareholder support for management’s decision, which could be interpreted positively by the market.

Other Business

No other business was discussed at the meeting.

Conclusion

The ratification of the S\$39.7 million contract is a significant development for TA Corporation Ltd., with potential to drive both revenue growth and shareholder value in the near to medium term. Investors should monitor further announcements related to the execution and progress of this project.

Disclaimer: This article is for informational purposes only and does not constitute financial advice or a recommendation to buy or sell securities. Investors should conduct their own research or consult a qualified financial advisor before making investment decisions.

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