Frencken Subsidiary to Lease Singapore Land for Planned Larger Manufacturing Facility

MT Newswires

Jun 04

Frencken's (SGX:E28) subsidiary, ELTA, accepted an offer from Jurong Town Corporation for the lease of industrial land at Kaki Bukit Avenue 5, Singapore, according to a filing with the Singapore Exchange on Tuesday.

The company has drawn up plans to develop a new and larger manufacturing facility on the land to expand its mechatronics manufacturing operations.

The property has a land area of 12,318 square meters, with the lease term expected to be 33 years from Aug. 18, subject to certain conditions.

The subsidiary is required to fulfill a declared investment of at least SG$19.5 million.

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