Aedge Group’s Subsidiary Exercises Option Purchase Balance Lease 219 Kallang Bahru About 14 Mil

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Aedge Group’s majority-owned subsidiary, HPF Holdings, has recently exercised its option to acquire the remainder of the lease for a property located at 219 Kallang Bahru. As part of the transaction, the company has made a deposit of $559,520 to the vendor, Chutex Holdings, and will fulfill the remaining balance of $13.29 million upon completion on June 1, 2026.

This deposit is in addition to the previously paid option money, which amounted to 1% of the consideration price of approximately $14 million. The property, which has a 60-year lease granted by Jurong Town Corporation starting from February 20, 1984, covers an extensive land area of 2,652.1 square metres with a built-up area of 6,617.9 square metres.

According to the latest update, Aedge Group closed at 28 cents on September 22, with no significant movement in its shares. The company has demonstrated its continuous growth, as shown by its net profit of $15.3 million for the first half of 2021, as reported by LHN Group.