Toyota Financial Services Singapore Pte Ltd, Toyota Tsusho Asia Pacific Pte. Ltd. and Phillip Binter Pte Ltd agreed to acquire SGCM Pte. Ltd. from Singapore Press Holdings Limited (SGX:T39) for SGD 150 million on February 25, 2022.

SPHL and TFSSG have agreed to an all-cash deal that also includes SGCM's intellectual property and its subsidiaries, Quotz Pte Ltd (Quotz), Singapore's leading consumer-to business (C2B) online car auction platform, and Quotz (Taiwan) Pte Ltd. The acquisition by Toyota Financial Services Singapore Pte Ltd will be completed on 28th February 2022.