{"id":27377,"date":"2016-09-27T12:21:46","date_gmt":"2016-09-27T05:21:46","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/tee-land-to-acquire-ley-choons-real-estate-unit-for-11-5m\/"},"modified":"2016-09-27T12:30:41","modified_gmt":"2016-09-27T05:30:41","slug":"tee-land-to-acquire-ley-choons-real-estate-unit-for-11-5m","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tee-land-to-acquire-ley-choons-real-estate-unit-for-11-5m\/","title":{"rendered":"TEE Land to acquire Ley Choon's real estate unit for $11.5m"},"content":{"rendered":"


\nLey Choon stated in an SGX filing that its subsidiary had entered into an SPA with Tee Land. (Photo: Jonathan Choe, Flickr.com)
\nProperty developer Tee Land is acquiring the real estate subsidiary of Ley Choon Group Holdings, in line with the debt restructuring programme that Ley Choon is undertaking with its lenders.
\nIn an SGX filing, Ley Choon revealed that its subsidiary, Ley Choon Constructions and Engineering Pte Ltd, has entered into a conditional sale and purchase agreement (SPA) with Tee Land for the sale of the entire issued and paid up capital of Ley Choon Development Pte Ltd (LCDPL).
\nPrincipally engaged in the business of real estate development and building construction, LCDPL owns a 12,930 sq ft land at 241 Pasir Panjang Road, Singapore.
\nNotably, Tee Land has agreed to acquire LCDPL\u2019s over 8.7 million shares for S$11.5 million. Ley Choon said the acquisition price was decided upon a \u201cwilling buyer, willing buyer basis\u201d, with the acquisition expected to take place by end-November.
\nThe group expects to receive net proceeds of around S$9.93 million, which it intends to use to repay loans under the debt-restructuring plan.
\nMore information on the acquisition can be found here.
\n\u00a0
\nCheryl Marie Tay, Senior Journalist\u00a0at PropertyGuru, edited this story. To contact her\u00a0about this or other stories, email cheryl@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…TEE Land to acquire Ley Choon’s real estate unit for .5m<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Ley Choon stated in an SGX filing that its subsidiary had entered into an SPA...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-27377","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-77z","jetpack-related-posts":[{"id":111068,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sri-appoints-low-choon-sin-as-capital-markets-head\/","url_meta":{"origin":27377,"position":0},"title":"SRI appoints Low Choon Sin as capital markets head","date":"September 26, 2019","format":false,"excerpt":"\r Bringing almost a decade of real estate experience, Low spent nine years as an investment sales broker in CBRE Capital Market. He brokered $1.78 billion of commercial properties as well as $1.85 billion of residential land sales, including en bloc sale sites. Singapore Realtors Inc (SRI) has appointed Low\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2019\/09\/Choon-Sin-Photo.jpg?fit=425%2C543&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":108682,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ong-choon-fah-named-new-chair-of-uli-singapore\/","url_meta":{"origin":27377,"position":1},"title":"Ong Choon Fah named new chair of ULI Singapore","date":"July 3, 2019","format":false,"excerpt":"\r Ong Choon Fah, current CEO and head of research & consulting at Edmund Tie & Company, has been appointed as the new chair of Singapore for the Urban Land Institute (ULI). She succeeds Khoo Teng Chye, executive director for the Centre for Liveable Cities (CLC), Ministry of National Development\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":85780,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/choon-kim-house-in-upper-serangoon-up-for-en-bloc-sale-with-over-55m-guide-price\/","url_meta":{"origin":27377,"position":2},"title":"Choon Kim House in Upper Serangoon up for en bloc sale with over $55m guide price","date":"April 18, 2018","format":false,"excerpt":"\r Completed in the early 2000\u2019s, the four-storey mixed-use building comprises 20 commercial units and 10 apartments. (Photo: JLL) The freehold Choon Kim House along Upper Serangoon Road has been launched for collective sale at an indicative price of over $55 million, marketing agent JLL said on Wednesday (18 Apr).\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":102740,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/flynn-park-choon-kim-house-lower-prices-for-another-en-bloc-attempt\/","url_meta":{"origin":27377,"position":3},"title":"Flynn Park, Choon Kim House lower prices for another en bloc attempt","date":"January 7, 2019","format":false,"excerpt":"\r Most of the owners at Flynn Park off Pasir Panjang Road have agreed to a lower asking price. (Photo: JLL) Two freehold developments \u2013 Flynn Park and Choon Kim House \u2013 have relaunched their en bloc sale tenders at lower reserve prices, revealed marketing agent JLL on Friday (4\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":75297,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/oxley-holdings-acquires-freehold-property-from-interested-person\/","url_meta":{"origin":27377,"position":4},"title":"Oxley Holdings acquires freehold property from interested person","date":"December 27, 2017","format":false,"excerpt":"\r Oxley Holdings, via its wholly-owned subsidiary Oxley Amethyst Pte Ltd, has exercised an option to acquire a property along Balestier Road for $38 million from Owen Private Limited. With a land area of around 1,118.4 sq m, the freehold property is zoned residential with commercial on the first storey\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":10368,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/thai-mass-market-developer-switches-to-the-luxury-segment\/","url_meta":{"origin":27377,"position":5},"title":"Thai mass-market developer switches to the luxury segment","date":"April 11, 2016","format":false,"excerpt":"\r The company repositions itself to focus on catering to a market that is still in high demand Don Muang area (Screen grab from YouTube) In a bid to tap into a more profitable segment of the local\u00a0property market, Chewathai Public Co, the Thai arm of Singapore-listed developer TEE Land,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/27377"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=27377"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/27377\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=27377"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=27377"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=27377"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}