The Hour Glass (SGX:AGS) exercised the option to purchase a freehold premium grade office property, the Tong Building at 302 Orchard Road in Singapore for a consideration of SG$68.5 million, a filing with the Singapore Exchange said on Thursday.
The acquisition is part of the group's strategy to invest in high quality assets. The acquisition will be funded using the company's internal resources. Completion of the deal is expected to take place in December.
Price (SGD): S$1.60, Change: S$+0.010, Percent Change: +0.63%
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