LIAN Beng Group's newly incorporated subsidiaries in Singapore has been granted options to acquire four properties here for S$151 million.
The subsidiaries have until Aug 11 to exercise the options that were granted by Heartland Retail Holdings on July 21.
Lian Beng Group said that the proposed acquisition, which will be funded through bank borrowings and/or internal resources, is an opportunity to participate in a strategic investment where the group can derive rental returns.
The sale and purchase of the properties will be done concurrently.
The deal's completion is subject to the approval of the Housing and Development Board for the sale of the properties.
The counter closed higher by 0.5 Singapore cent or one per cent at 46.5 Singapore cents on Friday.