Jinhai Medical Technology (02225) issued an announcement. On May 17, 2023, the buyer KT&T...
Zhitong Financial App News, Jinhai Medical Technology (02225) issued an announcement. On May 17, 2023, the buyer KT&T Engineers and Constructors Pte. Ltd. (a wholly-owned subsidiary of the company) entered into a purchase agreement with the seller Eng Lee Engineering Pte Ltd., which involved the buyer to acquire the property at a total cost of SGD 10.18 million (excluding goods and services tax payable).
According to reports, the property is located at 5 Neythal Road Singapore 628572. It has been approved for “only the construction of houses and engineering components and related marine engineering”, with a total area of about 8624.8 square meters.
The announcement stated that the property to be acquired will be used for the Group's business operations to expand the Group's business. In view of the above, the directors believe that the terms (including costs) of the purchase agreement are fair and reasonable, and that the conclusion of the purchase agreement is in the overall interests of the company and shareholders.