Singapore-listed dental healthcare group Q&M Dental said on Monday it has exercised an option to buy three adjoining Housing Board shop units in Jurong East for $12.15 million.

The shop units at #01-213, #01-215 and #01-217 Block 130 Jurong Gateway Road are being bought from United Overseas Bank.

They were valued at $13 million as at Jan 27, according to a valuation by Collier International Consultancy & Valuation (Singapore). The purchase will be funded by the company's internal funds and bank loans, Q&M said.

It also said in a separate announcement that it has agreed to buy a 70 per cent shareholding in Malaysian dental business Ng GK Dental Surgery (Melaka).

Q&M will pay 490,000 ringgit (S$189,000) for the stake and Ng GK Dental Surgery will will become a subsidiary of the company.

This acquisition is "in line with the group's expansion plans into Malaysia", said Q&M in its statement filed with the Singapore Exchange.

"The company intends to achieve a bigger market share of the dental business in Malaysia through organic growth or through joint ventures with third parties," Q&M added.

"This is the first clinic being acquired by the Group in Melaka, Malaysia and this proposed acquisition will enable the group to tap into the Melaka dental tourism market."