As a recap,Tannery Holdings first entered a joint venture with Far East Civil Engineering (FECE) and Sekisui House (Sekisui) to develop a land parcel at Woodlands Square and the incorporation of a private limited company to undertake the development. This was completed in 2020, and each party held one-third interest in the share capital of Woodlands Square.
Far East Orchard’s wholly owned subsidiary, Tannery Holdings, has increased its stake in a private limited company Woodlands Square, following the acquisition of 6.667% of the share capital from Sekisui House.
This brings Tannery Holdings’ stake in Woodlands Square to 40%.
