BreadTalk plans to buy leasehold land at Tai Seng Street for S$5m

Singapore-listed BreadTalk Group on Friday said it plans to buy a piece of leasehold land at Tai Seng Street for S$5 million.

The company plans to construct a multi-storey building on the site which has an area of about 72,000 square feet.

The new building will serve as its central kitchen manufacturing facility.

It will have a research and development centre, training test kitchens, warehousing, cold room facilities and it will also be the company’s operations headquarters.

Currently, these functions are being carried out of rented manufacturing premises at Kampong Ampat.

BreadTalk said it will finance the acquisition and the construction costs through internal resources and bank borrowings.

This is not expected to have a material impact on its assets or earnings for the current financial year.

Source : Channel NewsAsia – 13 Nov 2009

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