Sheng Siong (SGX:OV8) completed the acquisition of Jelita Property for SG$50.2 million, according to a filing with the Singapore Exchange on Friday.
Jelita owns properties located at 2 First Street Singapore and has a leasehold interest of 78 years for a property located at 181 Toa Payoh, Singapore.
The acquisition, which was financed through internal resources, is part of the company's aim to open additional stores and receive additional rental income arising from leaseback agreements.
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