Company Briefs: Tiong Seng Holdings

Tiong Seng Holdings

Tiong Seng Holdings has agreed to buy two vacant plots of land in Johor Baru for RM29.9 million (S$10 million) to expand its prefabrication production capacity.

The construction and engineering company said its prefabrication arm, Robin Village Development, is acquiring the land, which sits in Mukim Rimba Terjun, Daerah Pontian, Johor.

The purchase is part of plans to expand the production capacity and capability of the group in pre-cast manufacturing and prefabrication, the company said.

Cromwell European Reit

Mr Philip Levinson, the chief executive of Cromwell European Reit's manager, has resigned to pursue other business interests, including providing advisory services to the real estate investment trust's sponsor, Cromwell Property Group.

Mr Levinson, 54, will remain as executive director and CEO of Cromwell Ereit Management until Aug 31, and will work closely with the trust manager's board to achieve a smooth transition, the trust manager said.

A search for a new CEO has begun.

MindChamps PreSchool

MindChamps PreSchool has completed the previously announced A$5.5 million (S$5.5 million) acquisition of two Sydney pre-school centres, the early education company said yesterday.

The two centres are located at Ropes Crossing and at West Hoxton in the Australian city. Completion of the purchase of two more centres in the Lane Cone and Penrith districts, for A$7.4 million, is still pending, said MindChamps.

MindChamps used $1.1 million of its initial public offering proceeds to help fund the acquisition.

A version of this article appeared in the print edition of The Straits Times on June 19, 2018, with the headline 'Company Briefs'. Print Edition | Subscribe