JTC accepts Oxley Bliss' tender

The tender is for the acquisition of the industrial site at Plot 3, Tampines Industrial Crescent.

The Board of Directors of Oxley Holdings Limited announced that the S$55 million tender submitted by the company’s wholly-owned subsidiary Oxley Bliss Pte. Ltd. had been duly accepted by JTC Corporation via its letter dated 10 September 2012.

The site has a land area of 38,800 square metres and a tenure of 30 years. The gross plot ratio of the site is 1.7 and the zoning is Business 2 for clean uses only.

A tender deposit of S$2.75 million had been paid upon the submission of the tender offer. The purchaser shall make a further payment of 25% of the price less the aforesaid tender deposit on the date falling 28 days from the acceptance date. The balance 75% of the price is to be paid on the date falling 90 days from the acceptance date.

The company said it will fund the cost of the acquisition by internal resources and bank borrowings.