Singapore, Dec. 17, 2024 (GLOBE NEWSWIRE) — JE Cleantech Holdings Restricted (NASDAQ: JCSE) introduced as we speak that JCS-Echigo Pte Ltd, a wholly-owned subsidiary of JE Cleantech Holdings Restricted, has entered into an choice to buy settlement with an unbiased and third get together purchaser for the sale of its leasehold industrial property positioned at 17 Woodlands Sector 1 Singapore 738354 (the Industrial Property) for SGD7,393,000 (USD5,480,000) with the anticipated completion date of the transaction to happen by June 30, 2025. An preliminary deposit equal to 5 p.c of the promoting worth amounting to SGD369,650 (USD274,000) has been collected by our subsidiary. The sale of this industrial constructing will give rise to a internet achieve of roughly SGD3.7 million (USD2.7 million) over the web e-book worth upon completion. Nonetheless, the completion of this sale is conditioned primarily upon complying with the phrases and situations in acquiring consent from the lessor of the commercial property to the sale, switch and/or task of the property and the unexpired leasehold curiosity within the industrial property to the purchaser.
Ms. Elise Hong, the CEO and Chairman, mentioned: We acquired this industrial property 11 years in the past to arrange the operation of the centralized dishwashing facility, and it has a remaining leasehold interval of 19 years. We obtained a suggestion to buy the property at a superb worth, and we consider having each the operations of producing and dishwashing in addition to administration in the identical facility will create each value financial savings and operational advantages.
About JE Cleantech Holdings Restricted
JE Cleantech Holdings Restricted is predicated in Singapore and is principally engaged in (i) the sale of cleansing programs and different gear; and (ii) the availability of centralized dishwashing and ancillary companies. Via its subsidiary, JCS-Echigo Pte Ltd, the corporate designs, develops, manufactures, and sells cleansing programs for varied industrial end-use purposes primarily to clients in Singapore and Malaysia. Its cleansing programs are primarily designed for precision cleansing, with options corresponding to particle filtration, ultrasonic or megasonic rinses with a variety of frequencies, excessive strain drying expertise, excessive stream fee spray, and deionized water rinses, that are designed for efficient elimination of contaminants and to reduce particle era and entrapment. The Firm additionally has supplied centralized dishwashing companies, by way of its subsidiary, Hygieia Warewashing Pte Ltd, since 2013 and basic cleansing companies since 2015, each primarily for meals and beverage institutions in Singapore. For extra details about JE Cleantech, please go to our web site: www.jecleantech.sg.
Ahead-Wanting Statements
Sure statements on this announcement are forward-looking statements. These forward-looking statements contain recognized and unknown dangers and uncertainties and are primarily based on the Firm’s present expectations and projections about future occasions that the Firm believes might have an effect on its monetary situation, outcomes of operations, enterprise technique and monetary wants. Buyers can discover many (however not all) of those statements by way of phrases corresponding to might, will, ought to, consider, count on, may, intend, plan, anticipate, estimate, proceed, predict, undertaking, potential, goal, aim, or different related expressions on this announcement. These forward-looking statements embrace, with out limitation, the Firm’s expectations with respect to future efficiency and anticipated potential monetary impacts. The Firm undertakes no obligation to replace or revise publicly any forward-looking statements to mirror subsequent occurring occasions or circumstances, or adjustments in its expectations, besides as could also be required by legislation. Though the Firm believes that the expectations expressed in these forward-looking statements are affordable, it can not guarantee you that such expectations will transform right, and the Firm cautions traders that precise outcomes might differ materially from the anticipated outcomes and encourages traders to assessment different components that will have an effect on its future leads to the Firm’s Kind 20-F, and different filings with america Securities and Change Fee.
Contact:
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