HG Metal expands production capacity with $20.8M acquisition

New property aimed to support projected growth in 2026-2029.

HG Metal Manufacturing Limited (HG Metal) acquires new industrial property at 47 Tuas View Circuit from Hai Leck Engineering Limited for $20.8m.

The acquisition is aimed at supporting the company’s growth according to a company statement from HG Metal.

The 24,163.8-square-metre property includes a 3-storey ancillary office building, two 3-storey production buildings, and a single-storey industrial facility with two factories.

HG Metal will purchase the 12 years remaining from the 30 year lease that started in December 2007.

HG Metal intends to use the Property to expand its production facilities and capabilities, as well as to increase storage capacity with their current facility nearing full capacity, according to the company statement.

With the purchase of the property, HG Metal looks to take advantage of the expected average value of contracts of $39b-$46b from 2026-2029 according to the Building and Construction Authority.

An order to purchase of 1% of the price has already been exercised and HG Metal will now pay 5% of the purchase price. The remaining 95% will be paid upon legal completion of the sale.

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