Hong Leong Asia buys Yong Tai Loong for $90.7m
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Hong Leong Asia has acquired Yong Tai Loong for approximately $90.7 million, enhancing its building materials portfolio in Singapore. The deal is expected to be earnings accretive and aligns with Hong Leong's strategy to strengthen urban solutions in the built environment sector. Yong Tai Loong, a supplier of various architectural products, has a strong order book supported by demand from Housing and Development Board and private residential projects. The acquisition will retain Yong Tai Loong's management team to ensure smooth integration.
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