OKP's subsidiary to purchase Kreta Ayer property for S$11.3m
Add BT as a preferred sourceOKP Holdings announced that its 51 per cent-owned subsidiary Raffles Prestige Capital will be purchasing a property at 35, Kreta Ayer Road from Visionone Investment Private Limited for S$11.3 million.
The freehold property is a three-storey shophouse with an attic, occupying a lot area of 1,568 square feet. The total floor area is 4,240 square feet.
The property is intended for investment and the purchase price will be funded by internal resources and bank borrowings.
An independent valuation by CKS Property Consultants pegs the open market value of the property as at Oct 13 at S$11.3 million.
The proposed purchase is not expected to have a material impact on the net tangible assets per share or earnings per share of the company for the financial year ending Dec 31.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
Ng Khee Siong, managing director of Borneo Motors parent Inchcape Singapore, resigns
Early payout from Philippines’ Maharlika Investment Fund raises eyebrows over its true nature
Malaysia data centre boom enters ‘reset mode’ as resource, funding realities bite: S&P
Kingsford Group inks deal to buy Tan Boon Liat Building at lower reserve price of S$950m
