Link: https://links.sgx.com/1.0.0/corporate-announcements/ZBL59WM44TYQ5TYW/17525ad2e99e004d85ad25d4007af9c516c2ea12b107ef17208ca316a4d7aa53

Summary:

• Joint Bid: Sing Holdings Residential Pte. Ltd. (wholly-owned subsidiary of Sing Holdings) and Sunway Developments Pte. Ltd. (subsidiary of Sunway Berhad, Malaysia) jointly submitted a tender of S$623,910,000 for a second residential land parcel at Chuan Grove.

• Tender Status: Their bid is the highest received by the Urban Redevelopment Authority (URA), though URA reserves the right to accept or reject any tender.

• Planned Development: Upon award and approval, a joint venture (JV) will be set up (Sing Holdings 65%, Sunway 35%) to develop the site, with a gross floor area of about 43,543 sqm.

• Funding: The JV will fund the project using a mix of internal resources and bank borrowings.

• Financial Impact: The transaction is not expected to have a material effect on the net tangible assets per share or the earnings per share of Sing Holdings Group for FY2025.

• Director/Shareholder Interest: None of the directors or substantial shareholders has any interest in the tender.