YTL Cement Singapore acquires Sin Heng Chan

YTL Corporation Bhd's YTL Cement Singapore Pte Ltd unit has acquired Sin Heng Chan (Singapore) Pte Ltd for MYR64.969m (S$24.734m).

Sin Heng Chan is engaged cement trading with terminal operations, YTL Corp said in a filing in Bursa Malaysia today. It is an importer of bulk cement into Singapore and operates a bulk cement terminal at Jurong Port with a 60,000t storage capacity. The company also manufactures bagged cement.

Following this acquisition, Sin Heng Chan (Singapore) becomes a wholly-owned subsidiary of YTL Cement Singapore and an indirect subsidiary of YTL Corp.