SNACK EMPIRE (01843) is planning to acquire a property in Singapore.

SNACK EMPIRE (01843) has announced that on January 20, 2025, the buyer, STSS Integrated Pte Ltd (an indirect wholly-owned subsidiary), has exercised the purchase option. As a result, the seller, Agrocorp International Pte Ltd, has agreed to sell, and the buyer has agreed to purchase the property for a price of SGD 7.7855 million, plus goods and services tax of SGD 0.7007 million. The property is an office space located at 10 Anson Road #34-04/#34-05/#34-06 (postcode: 079903) in Singapore, with a land area of 393 square meters. The property is currently rented out. The announcement states that the property is located in the same building as the group's headquarters. The group currently owns and occupies two office spaces, with a total area of 174 square meters. Due to an increase in the number of staff at the headquarters, the existing office space is no longer sufficient. The group is currently renting two six-seater shared office spaces on different floors of the same building. The group's headquarters plans to move to the property after the acquisition, eliminating the need to lease additional office spaces. Therefore, the acquisition is expected to (i) reduce current and future rental and relocation expenses, and (ii) consolidate all employees in one office to promote better communication and create a cohesive work environment. Additionally, the property will strengthen the group's fixed asset base.