Yoong Onn acquires 60% stake in Singapore linen company for RM38mil

PETALING JAYA: Yoong Onn Corp Bhd (YOCB) is acquiring a 60% equity interest in Singapore-based home linen and homeware distribution firm, T.C. Homeplus, for RM38.16mil.

In a filing with Bursa Malaysia, YOCB said it had entered into a conditional share sale agreement with T.C. Homeplus’ shareholders, Wong Fun Ngian, Wong Fun Foong, Ang Teng Poh and Lim Ting Han for the acquisition.