WEI YUAN HLDG(01343) subsidiary accepts JTC's leasing offer

WEI YUAN HLDG (01343) announced that on February 26, 2025, its indirectly wholly-owned subsidiary WGC (Wee Guan Construction Pte Ltd) accepted a leasing offer from the Singapore government agency JTC (JTC Corporation) for a property lease with a land and building premium of 18.6 million Singapore dollars (excluding prevailing goods and services tax). The property is located at 18 Chin Bee Drive Singapore 619865, with a land area of approximately 9861.80 square meters and a total floor area of approximately 8635.76 square meters of factory space. The property is currently vacant and is authorized for use as follows: (i) group vehicle repair and maintenance workshop, (ii) parking for group vehicles; and (iii) subsidiary dormitory. The directors believe that the 20-year property lease will mitigate the risks of (i) being unable to find suitable property for relocation upon lease expiry or termination, as the group may not be able to renew on similar and/or commercially acceptable terms; and (ii) incurring renovation expenses and time costs for further relocation within the next 20 years.