YTL Cement Singapore completes NSL acquisition

YTL Cement Singapore Pte Ltd has finalised its acquisition of NSL Ltd, a Singapore-based investment holding company that supplies building materials, from 98 Holdings Pte Ltd. The company acquired an 81.24 per cent stake for a total cash consideration of SGD227.613m (US$169.1m).

The deal provides a unique opportunity for YTL Corp Group’s expansion via YTL Cement and its subsidiaries into the international business sectors in Malaysia, Dubai, Finland and Singapore, according to Market Line. The precast concrete components businesses in Malaysia and Singapore are synergistic to YTL Cement Group’s cement business while those in Dubai and Finland present a pivotal opportunity for YTL Cement Group to expand its business footprint into new markets. The precast concrete components businesses are expected to facilitate the speed of construction required in rapidly expanding economic segments such as the data centre industry, in addition to supporting the development of innovative solutions across the construction industry.

In July 2024 YTL Cement Bhd, a subsidiary of Malaysia-based YTL Industries, announced it had entered a conditional sale and purchase agreement to acquire the stake in NSL.