Old Chang Kee

Old Chang Kee: Has exercised an option to purchase a property at Woodlands Terrace for cash consideration of $4.2m. The Property is an intermediate terrace factory leased by JTC Corp to the vendor initially for 60 yrs from 1 Sept 1994 with land area of 1.3k sqm. It will be used for food processing and storage. The purchase will increase grp's food production facilities and co is of view that this is essential to co's overseas and local expansion plans.