Figtree Holdings snags S$12.2 million contract to design and build Pandan Loop factory

FIGTREE Holdings will design and build a factory in Pandan Loop for a pork and meat product distributor, under a contract announced on Friday.

Wholly owned subsidiary Figtree Projects has secured a S$12.19 million deal with Tiong Lian Food Pte Ltd for a food processing and distribution facility, said the Figtree board.

The five-storey factory at 202, Pandan Loop, is expected to be completed in Q4 2019, with a gross floor area of more than 12,000 sq m (129,167 sq ft).

Besides chiller and freezer cold rooms, a central kitchen and other offices, the single-user industrial building will also contain a fully automated, refrigerated min-bin storage system and refrigerated automated storage and retrieval system warehouse, the group added.

Figtree said that the contract will contribute to the revenue of the group, but it is not expected to have a material impact on the earnings per share and net asset value per share for the year to Dec 31.