Group 1 - K2F&B (02108) announced a conditional sale agreement for a property located at People's Park Centre in Singapore for SGD 28 million (approximately HKD 172 million), excluding applicable goods and services tax [1] - The buyer, Aik Chuan Construction Pte Ltd, will lease the property back to the seller at a monthly rent of SGD 75,000 (approximately HKD 460,000) for an initial term of three years, with an option to renew for another three years at a maximum rent increase of 10% [1] - The property was previously acquired by the company in 2020 for approximately SGD 22.2 million (around HKD 136 million), primarily funded through bank loans [2] Group 2 - The sale is seen as a good opportunity to realize the property's value, allowing the company to convert its investment into cash [2] - Proceeds from the sale will be used to repay bank loans, thereby reducing the company's debt and financing costs, and alleviating liquidity pressure [2]
K2 F&B附属拟2800万新加坡元出售新加坡物业