NewTimeSpace News: On 23 March 2026, the board of directors of TAP released an update in relation to its offer document dated 15 January 2026, disclosing two key progress updates at its core.

In terms of the property acquisition, led by 163 TS Pte. Ltd., in which TAP holds a 10% equity stake, a sale and purchase agreement for the 11-storey freehold commercial property at 163 Tras Street, Singapore was signed on 22 October 2025, and the acquisition was officially completed on 20 March 2026.

In terms of capital and IPO proceeds utilization, according to the announcement, as a joint venture partner of 163TS, TAP is required to provide a loan contribution of approximately S$2.25 million for the acquisition and subsequent renovation of the property, of which S$1.88 million is from the net IPO proceeds. It is learned that the IPO raised a total of S$10.756 million in net proceeds; as of the date of the announcement, S$1.483 million has been utilized, and the remaining S$9.273 million will be allocated to property investment, portfolio expansion and general working capital in accordance with the provisions set out in the offer document.

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