Asset Acquisitions and Disposals::Award of Tender for Freehold Site located at 870 Dunearn Road, Singapore

TUAN SING HOLDINGS LIMITED

(Company Registration No. 196900130M)

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AWARD OF TENDER FOR FREEHOLD SITE LOCATED AT

870 DUNEARN ROAD, SINGAPORE 589471

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The Board of Directors (the "Board") of Tuan Sing Holdings Limited (the "Company", and together with its subsidiaries, the "Group") wishes to announce that Gerbera Land Pte. Ltd. ("Gerbera"), a wholly-owned subsidiary of the Company, has been awarded a private tender for a freehold site located at 870 Dunearn Road, Singapore 589471 (the "Property") at a purchase price of S$56,000,000/- (the "Consideration").

Description of the Property

The Property occupies a land area of approximately 1,592.4 sq. m. (or 17,140 sq. ft.) and currently comprises a petrol station. The Property is strategically located at the junction between Dunearn Road and Yarwood Avenue, and directly opposite King Albert Park MRT Station with sheltered access under a 3-minute walk. It has a frontage spanning approximately 42.5 metres along Dunearn Road and 30 metres along Yarwood Avenue.

The Property is located next to and shares the same boundary as Link@896, another commercial property owned by Gerbera.

The enlarged site (comprising the Property and Link@896) will yield a regular-shaped land parcel ideal for more efficiency planning with wider frontage and improved visibility along Dunearn Road and Bukit Timah Road.

Principal terms of the sale and purchase

Subject to all terms and conditions set out in the tender documents being satisfied, the legal completion of the sale and purchase of the Property (the "Acquisition") is expected to take place within nine (9) months from the date of acceptance of the tender offer ("Completion").

Source of funds

The Acquisition is in the ordinary course of the Group's business and will be financed by internal funds and/or bank borrowings.

The above transactions are not expected to have any material impact on the consolidated net tangible assets or earnings per share of the Company for the financial year ending 31 December 2021.

Interests of directors and controlling shareholders

None of the directors or controlling shareholders of the Company has any interest, direct or indirect, in the above transactions, other than through their shareholdings in the Company (if any).

BY ORDER OF THE BOARD

William Nursalim alias William Liem

Executive Director/Chief Executive Officer

18 August 2021

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