Hiap Tong sells Tuas South property for $4.8m

The sale reflects a loss on disposal of $236,155

Bachy Soletanche Singapore will purchase a Hiap Tong-owned property at 8 Tuas South Street 10, Singapore, for $4.8m.

The property has a land parcel of 12,000 sq m with a lease term of 22 years and seven months commencing on 31 May 2013 to expire on 30 December 2035.

The property market value was $6.5m as of 25 March 2024, whilst its net book value as of 31 March 2023 is $4,988,155, reflecting a loss on disposal of $236,155 based on net proceeds.

Hiap Tong received a $48,000 option fee and an acceptance fee equivalent to 4% of the consideration from Bachy Soletanche.

Bachy Soletanche Singapore must pay the balance on 1 July or four weeks from the completion date.

Bachy Soletanche is required to fulfil Hiap Tong’s and JTC’s requirements, including the disposal of the property within three years from the issuance date of JTC’s Offer Letter, amongst others.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia