CosmoSteel Holdings has received the final approval for the disposal of property at 90 Second Lok Yang Road, which it is now expecting to take place in end-August 2025.
The property is a 5-storey single-user warehouse building with ancillary workers’ dormitory with a land area of approximately 69,998.79 square feet. The property is leased from Jurong Town Council and the lease expires on June 15, 2032.
The buyer, Tenda Equipment & Services, has agreed to a sale consideration of $9 million. An option fee of $90,000 will be paid upon the vendor’s acceptance, which is a wholly-owned subsidiary of Cosmosteel. The deposit of $360,000 will be paid on the execution and exercise of the option to purchase, and the balance shall be payable on or before the completion date.
Shares in CosmoSteel closed flat at 22 cents on June 16.
