JE Cleantech announces option agreement to sell industrial property

JE Cleantech Holdings (JCSE) has entered into an option to purchase agreement with an independent and third party purchaser for the sale of its leasehold industrial property located at 17 Woodlands Sector 1 Singapore 738354 for SGD7,393,000 with the expected completion date of the transaction to occur by June 30, 2025. An initial deposit equivalent to five percent of the selling price amounting to SGD369,650 has been collected by our subsidiary. The sale of this industrial building will give rise to a net gain of approximately SGD3.7M over the net book value upon completion. Nonetheless, the completion of this sale is conditioned mainly upon complying with the terms and conditions in obtaining consent from the lessor of the industrial property to the sale, transfer and/or assignment of the property and the unexpired leasehold interest in the industrial property to the purchaser.