SINGAPORE (Nov 18): OKP Holdings announced Monday it has exercised the option to purchase a property at 32 Tagore Lane off Upper Thomson Road for $8 million.
The freehold property sits on a lot area of 601 sqm and comprises a 2-storey light industrial terrace factory.
OKP says it intends to purchase the property, which is sold with vacant possession, for investment.
The purchase price will be funded via internal resources and bank borrowings.
The group says the proposed acquisition will not have any material impact on its net tangible assets per share and earnings per share for the financial year ending Dec 31, 2019.
Shares in OKP closed flat at 20 cents on Monday.
