Link: https://links.sgx.com/1.0.0/corporate-announcements/IQWG9RDW5NTGN3V3/053d713b32bd0cb193310385d1f940cba01466d7c7edc50073c9c9490568b26c

Summary:

• Sing Holdings Residential, a wholly-owned subsidiary of Sing Holdings, and Sunway Developments submitted a joint tender bid of S$703.6 million for a land parcel at Chuan Grove.

• The bid emerged as the highest received by the Urban Redevelopment Authority, though URA retains discretion to reject any tender.

• If awarded, a joint venture company will be formed with 65% equity by Sing Holdings Residential and 35% by Sunway Developments to acquire the land and develop a residential project of about 47,495 sqm gross floor area.

• The project will be funded by internal resources and bank borrowings.

• The transaction is not expected to have a material impact on Sing Holdings’ consolidated net tangible assets per share or earnings per share for FY2025.

• No directors or controlling shareholders have any interest in this transaction.