HCG secures rights to buy 8 Tuas View Circuit property

The property will be used for the Group’s recycling business and the dormitories to house the Group’s workers.

The Board of Directors of Enviro-Hub Holdings Ltd announced that HCG Environment Pte Ltd has secured the rights to purchase a property at 8 Tuas View Circuit for a cash consideration of S$8.4 million.

HCG, with a nominal paid up share capital of S$1, was incorporated on 31 July 2012 for the purpose of securing the rights to purchase the property.

The property, currently used as a warehouse for recyclable and construction materials, has a land area of approximately 12,000 square metres and a build-up area of 6,600 square metres comprising covered warehouses and staff dormitories. It is leased from Jurong Town Corporation to the vendors for a period of 30 years commencing 1 May 1997.

HCG has paid the sum of S$449,400 as deposit towards the purchase price. The remaining balance shall be payable on completion of the sale and purchase in accordance with the terms of the agreement.