YTL Cement Singapore, a controlling shareholder of Jurong Cement Limited (JCL), wants to buy the property, plant and equipment pf JCL’s wholly owned subsidiary – Jurong Cement Bulk Terminal. YTL is offering S$50 million which, as reported in the Singapore press is higher than the S$ 11 million takeover offer from Holcim Investments Singapore. The offer includes the cement terminal and the land at Pulau Damar Laut, Singapore.
Holcim controls about 55% of Jurong Cement while YTL Singapore has a 22% stake.