However, at this stage, the transaction has not been completed and is “subject to the necessary approvals” before the sale is finalised.
The bid is understood to come from Teo Kiang Ang, founder and non-executive chairman of Union Gas, and chairman and CEO of Trans-cab.
Teo had made the highest asking price of $55.5 million, 11% higher than SingPost’s asking price of $50 million.
The Edge Singapore had reported, in May, that SingPost initiated the divestment of the 10 shophouses with plans for a sale and leaseback model at the time.
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According to a SingPost spokesperson, the locations of the shophouses are at Tanjong Pagar, Teban Gardens, Clementi West, Towner Road, Serangoon Central, Jurong West, Ang Mo Kio, Bukit Merah Central, Ghim Moh Estate and Bedok North.
On June 19, a sale-and-leaseback bid was conducted. Several media outlets reported that the shophouse in Bedok North has the highest asking price of $7.1 million, while the Teban Gardens shophouse has the lowest at $2.4 million.
As at 3.55pm, shares in SingPost are trading flat at 50.5 cents.
