Sin Heng Heavy Machinery has been granted an option to purchase a property at Ghim Moh Road by BMAGR for a purchase consideration of $2.8 million, according to a Nov 5 bourse filing.
The property, located at 21 Ghim Moh Road, comprises a two-storey leasehold shophouse.
Under the acquisition, the property is being sold with a condition of tenancy ending on Nov 30, 2026.
According to the group, the acquisition is expected to be made for investment purposes.
The proposed acquisition is set to be completed nine weeks from the date of exercise of the option.
The proposed acquisition is not expected to have any significant impact on the group’s financial performance for the current financial year ending Dec 31.
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Shares in Sin Heng Heavy Machinery closed 1.5 cents higher, or 3.0% up, at 51.5 cents on Nov 5.
