UOL’s S$79 million bid for KH KEA building accepted

K.H. KEA Properties has accepted UOL Group’s S$79.3 million bid for the property at 333 North Bridge Road in Singapore, including the nine-storey commercial building called KH KEA Building, UOL said in a filing to SGX Friday.

The property is adjacent to UOL’s Odeon Towers property and has dual frontages on North Bridge Road and Cashin Street, UOL said.

“The company intends to explore the possible amalgamation of the property and Odeon Towers and potential asset enhancement works,” UOL said.

The site has a land area of around 435.2 square meters, a 999-year leasehold and commercial zoning, the filing said.

UOL said the acquisition will be financed with internal resources and external borrowings.

The deal isn’t expected to have a material impact on earnings per share for the current financial year, the filing said.

While you’re here, we’re hoping you can help us out.

Shenton Wire has been providing you with quick news and market analysis. But we need your support to continue to bring you the news you’ve come to expect and to expand our reach beyond Singapore.

Your monthly contribution will directly fund our journalism.

S$2     S$4       S$8

S$18       S$28       S$88

Check your existing account here and sign in to Shenton Wire here.

Contact us about other contribution levels or for corporate subscriptions and article syndication.