For its existing Mandai facility, the group may operate there for up to two years from the Temporary Occupation Permit (TOP) of the Sungei Kadut property, with a mandate to sell within two years of TOP or by Dec 17, 2031, whichever is earlier.
DBS Group Research is reiterating its “buy” recommendation and $2.30 target price on supermarket operator Sheng Siong, following the group accepting JTC’s offer to lease a 61,297 sqm site with a 33-year term at Sungei Kadut for a state-of-the-art high tech distribution centre.
The offer carries three key conditions: invest at least $120 million in new plant and machinery within four years of commencement; complete the development within four years to a gross plot ratio of 2.46 to 2.50; and install a minimum of 800 sqm of solar panels.
