LHT Holdings Ltd (SG:BEI) has released an update.
Claim 70% Off TipRanks This Holiday Season
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
LHT Holdings Limited has announced the termination of an agreement to lease a property in Kranji Industrial Estate due to not meeting the lease entitlement requirements and will face liquidated damages of approximately S$518,000. The initial investment estimate of S$56 million for building on the land has significantly increased due to the economic changes following the Covid-19 pandemic, prompting the company to deem it imprudent to proceed. The company will continue its operations at its existing Singapore locations.
For further insights into SG:BEI stock, check out TipRanks’ Stock Analysis page.