GKE Corp has extended the lease for one of its properties 7 Kwong Min Road for 20 years.
The property, now used as the operating facility of its subsidiary GKE Marquis, has a current lease that will expire come June 2028.
Under terms of the lease with landlord JTC, GKE is required to invest at least $1.65 million in new plant and machinery at the property, among other conditions.
"The acceptance of JTC’s offer provides longer term continuity and stability to the group’s current operations," says GKE.
Earlier this month, GKE raised $8.53 million placing out 88.12 million shares at 9.68 cents each.
The investors include ICH Capital, Asdew Acquisitions, and Astral Value Fund VCC, as well as various unnamed accredited investors.
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Funds raised will be partly used to grow its warehouse and logistics business, the company said.
GKE shares closed at 10.1 cents on Oct 13.
