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UOL Group plans purchase of Singapore freehold asset for S$156M

UOL Group Ltd.'s subsidiary is planning to acquire a 69,858-square-foot freehold property in Singapore for S$156.0 million from Sin Lian Huat Co. (Pte.) Ltd.

UOL Ventures Pte. Ltd. was granted an option to purchase 45 Amber Road by the seller, with two weeks to exercise the buy option.

The acquisition is expected to be completed within 12 weeks from the date the option is exercised.

The company will pay for the purchase with internal resources and external borrowings.

As of Jan. 23, US$1 was equivalent to S$1.42.