Heeton Subsidiary Enters Joint Venture Deal for Investment Portfolio Expansion

MT Newswires

01/28

Heeton's (SGX:5DP) subsidiary, Heeton Homes, signed a deal with private firms, Astra Horizon Ventures and Hong Heng, to establish a joint venture in a bid to expand its investment portfolio, according to a Wednesday filing with the Singapore Exchange.

The joint venture company, Thomson Invesco, will invest into 5% of the equity of Wee Hur Thomson (Residential) and Wee Hur Thomson (Commercial), target companies that are set to develop a single, integrated "residential and commercial

at first storey" project at Upper Thomson Road.

The investment will be partly funded by the joint venture partners' equity contribution and about SG$13.5 million in shareholder loans.

Heeton Homes will own a 65% stake in Thomson Investo, while Astra and Hong Heng will hold 10% and 25%, respectively.

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