Mencast Holdings Ltd. has announced the exercise of an option to purchase its leasehold property at 42B Penjuru Road, Singapore, by Grandwoods Trading (Singapore) Pte Ltd. The transaction, valued at S$21m, was confirmed on 16 March 2026, following the purchaser’s payment of S$915,600, which includes the balance deposit and GST.
The option, initially granted by Mencast Marine Pte. Ltd., a subsidiary of Mencast Holdings, was set to expire on 18 March 2026. With the exercise of this option, a binding contract has been established for the property’s sale. The vendor’s solicitors will hold the deposit as a stakeholder until the completion of the sale.
Mencast Holdings has committed to providing further updates as the transaction progresses. The company’s directors have assured the accuracy of the information provided, emphasising their responsibility for full disclosure.
Shareholders and potential investors are advised to remain cautious, as the completion of the sale is contingent upon fulfilling certain conditions. Mencast Holdings has urged stakeholders to consult with financial advisers if uncertain about their investment decisions.
