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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.