Mainboard-listed Wee Hur Holdings said on Tuesday that its wholly-owned subsidiary Wee Hur Paya Lebar has exercised the option to acquire a property for S$15.2 million.
The property is situated at 422 Upper Paya Lebar Road and its transaction is still pending approval from authorities.
The construction service provider plans to redevelop the property and will fund the acquisition with bank borrowing and internal funds.
Wee Hur Holdings said the deal is not expected to cause a material impact on its net income for the current financial year ending December 31.