Intrepid is a wholly-owned subsidiary of Hong Leong Holdings.
The announcement of a joint venture with an interested person in relation to the land parcel at Tengah Garden Avenue was first announced on Jan 21, 2025.
The current total for all transactions with entities under Singapore Hong Leong Group, which is the entity Intrepid is under for FY2025 is $266.0 million which includes a sum of $255.5 million being the aggregate value of joint ventures with entities under Singapore HL that were previously announced and which fall within the exemption stipulated under Rule 916 of the SGX-ST Listing Manual.
The current total of all interested person transactions for FY2025 is $350.0 million. The entry into the JVA is not expected to have any material effect on the net tangible assets per share and earnings per share of GuocoLandfor FY2025, the group notes.
See also: City Developments announces divestment of South Beach stake, but should it be Mortlake instead?
Shares in GuocoLand closed 2 cents higher or 1.429% up at $1.42 on Apr 22.
