Miyoshi's (SGX:M03) wholly owned subsidiary, Miyoshi Precision, entered into a conditional sale and purchase agreement with VSP Technology to sell registered lease of a land located at the State of Johor and Malaysia and a factory building for 6.0 million ringgit.
VSP has agreed to purchase the registered lease for a period of 30 years expiring on Aug. 22, 2025, and for a period of 30 years expiring on Aug. 22, 2055 via a lease extension agreement, of a piece of land containing an area of around 0.5666 hectares, according to a filing with the Singapore Exchange on Friday.
The agreement also includes a factory building located at PLO 122, Jalan Cyber 5, Kawasan Perindustrian Senai, Johor Malaysia.
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