No formal notification as yet on outcome of Jalan Besar Plaza en bloc exercise: New Wave

IN an update on the properties held by the group at Jalan Besar Plaza, New Wave Holdings said that it had yet to receive any formation notification of the outcome of the tender exercise.

The tender was launched on Oct 10 and had a closing date of Nov 10.

The guide price for the freehold commercial and residential complex near Jalan Besar and Kitchener Road is S$390 million, or S$2,170 per square foot per plot ratio. This is higher than the S$380 million reserve price in its second sale attempt last June but identical to the guide price in its first attempt in November 2015.

"The company will continue to monitor the situation closely and ensure timely disclosure to our shareholders via (the Singapore Exchange) as and when there are any material updates on the tender exercise," said New Wave.