The Tuas View Circuit property has a tenure of 30 years which commenced on Dec 15, with approximately 12 years remaining. It comprises a 3-storey ancillary office building, two 3-storey, 2007 production buildings and a single-storey single-users industrial development comprising two factories, with a land area of approximately 24,163.8 square metres.
HG Metal has announced that it will acquire a leasehold industrial property at 47 Tuas View Circuit for $20.8 million through its wholly-owned subsidiary HG Construction Steel which exercised its option-to-purchase (OTP).
The acquisition is to be funded by the group through a combination of internal resources, bank borrowings, and/or net proceeds previously raised from the group’s rights issue and share placement exercises.
