Lian Beng to acquire property along Leng Kee Road and Alexandra Road for $46.2m
Still waiting for HDB's approval.
According to OSK, Lian Beng has been awarded the tender through its 80% subsidiary, Wealth Assets Pte Ltd, for the
purchase of the property along Leng Kee Road and Alexandra Road for a consideration of SGD46.2m subject to Housing Development Board’s approval.
Here's more:
This acquisition will be financed by internal funds and/or debt borrowings and will have no material impact on the earnings or net tangible assets of the group. We currently have a buy rating for the stock and are in the midst of reviewing our target price.