Tiong Seng Holdings (SGX:BFI) launched its flagship Watermark Tiong Seng Lifestyle Center in Tianjin, China, through its wholly foreign-owned entity, Tiong Seng Silvercare, as the company diversifies into the senior care business.
The launch seeks to leverage growth opportunities in China's Silver Economy, according to a Tuesday filing with the Singapore Exchange.
The property developer plans to expand the business further in Singapore and other Chinese cities.
Shares of the group soared nearly 7% in recent trading.
Price (SGD): S$0.08, Change: S$+0.0050, Percent Change: +6.67%
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