SGX-listed UMS Holdings buys 5.38 acres in Penang for $4.5m

The company now has 1.2 million sqft of space in Singapore and Malaysia.

SGX-listed UMS Holdings acquired 5.38 acres or approximately 235,000 square feet (sqft) of leasehold industrial land in Malaysia’s Penang Science Park North for approximately S$4.5m.

The leasehold has a tenure of 60 years.

UMS Holdings, which provides equipment manufacturing and engineering services, will have 1.2 million sqft of combined space in Singapore and Malaysia following this acquisition.

The acquisition will be funded internally from UMS’ placement proceeds raised in January 2024. It is not expected to have any material financial impact on the company within the current fiscal year, according to UMS Holdings’ announcement.