Mencast Holdings Ltd has announced the proposed sale of its leasehold property at 42B Penjuru Road, Singapore, to Grandwoods Trading (Singapore) Pte Ltd for S$21m. The option to purchase was granted on 16 February 2026 and remains valid until 18 March 2026. The sale is expected to yield a gain of approximately S$7.7m after accounting for related expenses.
The property, a 30-year leasehold granted by JTC Corporation, includes a general industrial factory and a four-storey office building. It currently houses Mencast’s propulsion manufacturing operations. The sale is contingent upon JTC’s approval for the assignment of the lease and other regulatory clearances.
Grandwoods Trading, an independent third party, specialises in metal recycling, trading, warehousing, and fabrication. The transaction was negotiated on a willing-buyer, willing-seller basis, with the consideration reflecting current market conditions and an independent valuation of S$24.3m.
Payment terms include an initial option fee of S$210,000, a balance deposit of S$840,000 upon exercise of the option, and the remaining balance upon completion. If the option is not exercised, the initial fee will be forfeited. Completion is expected within four months of obtaining necessary approvals, with provisions for rescission if approvals are delayed or denied.
