Toyota to acquire SgCarMart from Singapore Press Holdings for $111m.

Toyota, a firm that manufactures, sells, leases, and repairs passenger cars, trucks, buses, and their related parts worldwide, agreed to acquire SgCarMart, an operator of an online car portal, from Singapore Press Holdings, a news and media conglomerate, encompassing newspapers, magazines, and digital content, for $111m. “We respect and recognise SGCM’s achievements within the automotive online space. Singapore can be truly proud of this digital icon and we are committed to utilising our know how and resources to further strengthen SGCM in and beyond Singapore. With the combined strengths and resources of our partners, we look forward to new opportunities to enable accelerated growth for SGCM and elevation to the next level," Vinod Cherumadathil, TFSSG MD and CEO.