LHN Limited, through its indirect wholly-owned subsidiary WPS (TPY) Pte. Ltd., entered into a joint venture agreement on 22 October 2025 with multiple parties to form Thomson Gem Pte. Ltd. for the redevelopment of 680 Upper Thomson Road in Singapore.

Under the agreement, Thomson Gem Pte. Ltd. will issue 900 new ordinary shares, of which WPS (TPY) Pte. Ltd. will subscribe for 50 shares, representing 5.0% of the joint venture company’s enlarged share capital. The remaining shares will be subscribed by Macritchie Developments Pte. Ltd., KSH Blazar Pte. Ltd., CP-Tagore Pte. Ltd., Soon Hock Fortune Pte. Ltd., Petrus Capital Holdings Pte. Ltd., and two individual investors.

The property redevelopment plan is aimed at expanding the company’s property development business by leveraging partners’ resources and expertise. The transaction is not expected to have a material impact on the consolidated net tangible assets per share and earnings per share of LHN Limited for the financial year ending 30 September 2026. The company’s directors and substantial shareholders have no direct or indirect interest in the deal, beyond their shareholdings in LHN Limited.

Further updates will be provided if there are significant developments regarding the joint venture agreement or the property redevelopment.