Aedge Group’s Subsidiary Exercises Option Purchase Balance Lease 219 Kallang Bahru About 14 Mil
Aedge Group’s majority-owned subsidiary, HPF Holdings, has recently exercised its option to acquire the remaining portion of the lease for a property located at 219 Kallang Bahru. As part of the transaction, the company has paid a deposit of $559,520 to the vendor, Chutex Holdings. The remaining balance of $13.29 million will be settled upon completion, which is anticipated to take place on June 1, 2026.
The deposit paid by Aedge Group is in addition to the option money which was already paid to Chutex upon the issuance of the option. This amounts to 1% of the consideration price, which is approximately $14 million.
The property in question is a leasehold granted by Jurong Town Corporation, with a lease term of 60 years commencing from February 20, 1984. It spans across a land area of 2,652.1 square metres and has a built-up area of 6,617.9 square metres.
As of September 22, shares in Aedge Group remained unchanged at 28 cents.
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In other news, LHN Group has reported a net profit of $15.3 million for the first half of 2021.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as investment advice. It is always important to conduct your own research and consult with a financial advisor before making any investment decisions.