HS Optimus Holdings (SGX:504) said its student housing project in Australia remains on track despite a ban on foreign property purchases, according to a Tuesday filing on the Singapore Exchange.
The company continues to seek buyers for a Jakarta land and expects delays in completing Brunei shophouses, which are set to generate an 11.25% rental yield.
In the door business, UK demand remains weak amid inflation and competition, while Singapore operations secured small orders. The firm is also expanding its secured property financing segment.
Arbitration with BJTJ Industrial Co. is ongoing, and its Hong Kong subsidiary was deregistered on Jan. 17.
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