Low Keng Huat (Singapore) Ltd and its joint-venture partner, Kheng Venture Pte Ltd, will be acquiring Minton Rise Condominium in Hougang.
The acquisition will be made through the joint venture, Peak Garden Pte Ltd, at the purchase price of S$209 million.
The purchase and subsequent redevelopment of the property by Peak Garden will be financed by internal funds and bank borrowings.
The acquisition is not expected to have a material impact on Low Keng Huat group’s net tangible assets or earnings per share for the financial year ending 31st January 2008.
Source: Channel NewsAsia, 01 February 2007