Overview

The Company was incorporated in Singapore on 21 July 2004 under the name of Unionmet (Singapore) Pte Ltd and adopted the current name on 6 December 2006.

 

In 2007, Unionmet (Singapore) Pte Ltd converted into a public limited company Unionmet (Singapore) Limited and successfully listed on Singapore Exchange Securities Trading Limited.

 

In February 2014, as part of the Group’s continuing corporate strategy to provide shareholders with diversified returns and long term growth, the Group decided to diversify its business to include the Property Development Business and the Oil Blending Business.

 

On 14 March 2014, Unionmet (Singapore) Limited entered into a sale and purchase agreement to dispose Unionmet Holdings Limited excluding Liuzhou Union Zinc Industry Co., Ltd.

 

In June 2014, two wholly-owned subsidiaries were established in Singapore, namely USP Industrial Pte Ltd (“USPI”) and USP Properties Pte Ltd (“USPP”). The principal activity of USPI is related to blending and distribution of diesel and engine oil. The principal activity of USPP is related to property development, which includes the business of property holding, development, management and other related property activities with a focus on the residential and commercial sectors in Singapore.

 

In October 2014, USP Properties Pte Ltd ("USPP") has subscribed for 900 new ordinary shares in the capital of Cluny Home Development Pte Ltd ("CHDPL"). Following the aforesaid subscription, USPP holds 90% of the total and issued paid-up capital of CHDPL and CHDPL has become a subsidiary of the Company.

 

In February 2015, the company has changed its name to USP Group Limited.

 

Completion of the acquisition of 49% of SG Support Service Pte Ltd has taken place on 11 May 2015 and SG Support Service Pte Ltd is now an associate of the Company.