BHCC Holding Ltd. Announces Joint Venture and S$3 Million Tender Deposit for Industrial Development in Singapore

Reuters
Sep 09
BHCC Holding Ltd. Announces Joint Venture and S$3 Million Tender Deposit for Industrial Development in Singapore

BHCC Holding Ltd., a company listed on the Main Board of the Stock Exchange of Hong Kong, has announced a significant transaction involving its subsidiary, BHCC Project 2, based in Singapore. The company has entered into a discloseable and connected transaction concerning the payment of a tender deposit for a real estate project. The deposit, amounting to approximately S$3,000,000 (equivalent to around HK$18,000,000), is part of the conditions for a tender submission related to a land lease in Singapore. The initiative aims to expand BHCC's property development portfolio. If the tender is accepted, BHCC Project 2, along with other parties, plans to form a joint venture company to lease and develop the land. The transaction aligns with market norms and has been deemed fair and reasonable by the company's Board and independent non-executive directors.

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