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Duty Free International Partners with Chin Hin Group for Major Johor Bahru Development

Story Highlights
  • Duty Free International partners with Chin Hin Group for a property project in Johor Bahru.
  • The project requires shareholder approval and is valued at RM83.57 million for Duty Free.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
Duty Free International Partners with Chin Hin Group for Major Johor Bahru Development

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Duty Free International Limited ( (SG:5SO) ) just unveiled an announcement.

Duty Free International Limited has entered into a joint development agreement with Chin Hin Group to develop a property in Johor Bahru, Malaysia. The project includes 1,010 serviced apartment units, 250 affordable homes, retail lots, and car parks. The company’s share of the development is valued at RM83.57 million, representing 18% of the total net saleable area. This major transaction requires shareholder approval, and an extraordinary general meeting will be convened. Chin Hin Group was chosen as the partner due to its strong track record in property development and financial capability.

More about Duty Free International Limited

Duty Free International Limited is a company incorporated in Singapore, operating in the retail industry with a focus on duty-free retailing. The company, along with its subsidiaries, is involved in the sale of a wide range of duty-free products, catering primarily to travelers and tourists.

YTD Price Performance: 8.33%

Average Trading Volume: 98,125

Technical Sentiment Consensus Rating: Strong Buy

Current Market Cap: S$77.88M

See more data about 5SO stock on TipRanks’ Stock Analysis page.

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