Fraser & Neave Holdings Bhd (F&NHB) said it has signed a conditional heads of agreement on Sep, 25 2025 to sell its entire 50% interest in Vacaron Company Sdn Bhd to Tan & Tan Developments Berhad (TTDB) for cash equal to 50% of Vacaron’s adjusted pro-forma net asset value, or roughly 53 million Singapore dollars.

Vacaron owns a 5.149-hectare leasehold plot in Section 13, Petaling Jaya that was independently valued at about 106 million Singapore dollars. Frasers Property Holdings (Malaysia) Pte Ltd will retain the remaining 50% stake in Vacaron.

Under the proposed terms, TTDB will pay 75% of the consideration within seven business days of signing the share-purchase agreement and the remaining 25% on the first anniversary of Vacaron obtaining acceptable planning permission, backed by a bank guarantee.

F&NHB expects the sale to generate a gain of roughly 24 million Singapore dollars and to raise its net assets per share from RM9.75 to RM9.98 on a pro-forma basis. The proceeds will be reinvested in the group’s core beverage, dairy and food operations, including its integrated dairy-farm project in Gemas, Negeri Sembilan.

The transaction, which carries a highest percentage ratio of 5.04% under Bursa Malaysia rules, requires no shareholder or regulatory approvals and is targeted for completion in the third quarter of 2027.