Aedge Unit Bags New Singapore Dormitory License

MT Newswires

05/12

Aedge's (SGX:XVG) subsidiary, Gems Dormitory, secured a Class 3 license from the Ministry of Manpower, allowing it to operate a dormitory at 4 Tuas in Singapore named Beryl House, according to a Tuesday bourse filing.

Under Singaporean regulations, a Class 3 license covers dormitories with an occupancy of around 999 beds, with Gems Dormitory's total bed capacity standing at 707 beds. Following the new license, the company will progressively increase occupancy at Beryl House.

Gens Dormitory's other property, Amethyst House, which comprises 299 beds, already has a Class 2 license.

Shares of the manpower services company closed over 7% on Tuesday.

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