Wee Hur exercises option to buy Upper Paya Lebar property for S$15.2m

Mainboard-listed Wee Hur Holdings on Tuesday said its wholly-owned subsidiary Wee Hur Paya Lebar has exercised the option to buy a property for S$15.2 million.

The transaction of the property, located at 422 Upper Paya Lebar Road, is still pending approval from the relevant authorities.

The construction service provider intends to redevelop the property.

It will finance the acquisition with internal funds and bank borrowing.

Wee Hur said that the transaction is not expected to have a material impact on its earnings for the current financial year ending December 31.

Source : Channel NewsAsia – 1 Jun 2010

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