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Just wondering ..with the purchase of eunos mansion and one other Singapore site.
Tycoon koh has about 85% control
With the recent absd.
What are the odds he would privatised fragrance to avoid the penalty of not being able to sell all the units within 5 years of TOP?
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Acquisition of Property - Min Yuan Apartments
Fragrance Group Limited announced that the Company’s wholly owned subsidiary Fragrance Victory Pte Ltd (“Fragrance Victory”) has entered into a collective sales and purchase agreement to acquire the property known as Min Yuan Apartments located at 62 Waterloo Street Singapore 187958 comprised in Lot No. 00378V of TS11 at the purchase price of S$141,000,000/-. The sale and purchase is subject to various terms and conditions inter alia the vendors obtaining an Order from the Strata Titles Board or the High Court under the Land Titles (Strata) Act approving the collective sale of all units in the Property.
The Property has a tenure of 999 years and contains a land area of 1,359.1 square meters at a plot ratio of 4.2. The Property upon redevelopment may yield a potential Gross Floor Area of 5,708.22 square meters, subject to payment of development charge of approximately S$19.55 million at the prevailing rate.
Fragrance Victory already owns the adjacent land plot located at 64 Waterloo Street (“64 Waterloo”). Subject to obtaining the necessary approvals from the relevant authorities, the Group intends to redevelop the Property together with 64 Waterloo for a combined comprehensive hotel development (“Combined Development”) with efficient layout and facilities. The Combined Development will have a total land area of 2,694 square meters and a gross floor area of 11,315 square meters.
Specuvestor: Asset - Business - Structure.
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