Tat Seng Packaging Group Ltd announced on Mar, 31 2026 that it has completed the transfer of the business, assets and liabilities of United Packaging Industries Pte. Ltd. (UPI) to the company.

Under the Business Transfer Agreement, the initial consideration is about 7.93 million Singapore dollars, subject to adjustments based on UPI’s unaudited balance sheet as of Mar, 31 2026. These adjustments will cover trade and other receivables, trade and other payables (excluding GST liabilities), lease liabilities, inventories, and the net book value of fixed and right-of-use assets.

Following completion of the transaction, Tat Seng Packaging will continue the acquired operations, while UPI will become inactive.