BHCC HOLDING (01552) announced that on August 19, 2025, the company's indirect wholly-owned subsidiary BHCC Project 2, together with other bidders, jointly submitted a tender to lease Singapore land located in Sengkang West for industrial development purposes.
According to the tender conditions, bid deposits (including approximately S$3 million from BHCC) have been paid to the tender authority, representing no less than 5% of the bid price. Should the bid be accepted, the deposit will be applied toward partial payment of the bid price. If the bid is not accepted, the deposit will be returned to the bidders upon or before the expiry of the bid validity period, which is ten weeks from the bid validity period expiry or the last day of any extended period as notified by the tender authority.
Prior to paying the bid deposit, BHCC Project 2 entered into a pre-bid agreement with other bidders, which involves, among other things, the proposed joint submission of the bid and the intention to establish a joint venture company upon acceptance of the bid, including the lease and development of the land.
The company stated that it is optimistic that, should the bid be successful, the acquisition of this land parcel will enable the company to strengthen its property development segment and diversify its property development portfolio.
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