Mooreast Holdings will be buying a site adjacent to its current premises at a reduced price of $12.5 million.
When the proposed acquisition of Lot 4022P and Lot 4097V of Mukim 7 at 60 Shipyard Crescent was first announced in June 2024, it was to be at $13.5 million.
In addition to the lower transaction price, the agreement has been amended to take into account other changes such as additional space, and demolition of certain structures previously on the site.
Also, Mooreast will reimburse $0.2 million to the seller for various adjustments and costs.
Mooreast shares closed at 13 cents on Jan 30.
