SOLIS HOLDINGS (02227) subsidiary granted options, intending to sell Singapore property for SGD 21 million

SOLIS HOLDINGS (02227) announced on February 2, 2026, that the seller (an indirect wholly-owned subsidiary of the company, Sing Moh Electrical Engineering Pte Ltd) has granted an option to the buyer, Straits Teamwork Pte Ltd. As per the agreement, the seller has agreed to grant the buyer the option to purchase the property for 21 million Singapore dollars, in accordance with the terms and conditions of the option agreement. The property is located at 450 Tagore Industrial Avenue, Singapore 787821. The board of directors has considered the current financial condition and business operations of the group, as well as the overall economy and property market in Singapore. They believe that the current market provides a good opportunity for the company, and the sale provides a favorable opportunity to realize the higher value of the property at a reasonable price. Furthermore, the proceeds from the sale will strengthen the group's financial position and increase its general operating funds. The property has been used as a dormitory for the group, with the office and warehouse partially utilized, hence not maximizing its full potential. Referring to the announcement dated July 3, 2023, the property was originally acquired for a project to increase office space, warehouse facilities, and dormitories, with the project scheduled for completion in the first quarter of 2027. Additionally, the group is bidding on significant projects, and the proceeds from the sale will enhance the group's cash flow and liquidity.