Ocean Sky to jointly redevelop Balmoral sites with Progen & Seacare

By Michelle Zhu / The Edge Singapore | October 16, 2017 10:51 AM SGT
SINGAPORE (Oct 16): Ocean Sky International has formed a new JV company with Progen Holdings and Seacare Property to develop the recently acquired cluster sites at Balmoral Road.
Ocean Sky says its 40% indirect joint venture (JV) company, TSky Development, has incorporated a new subsidiary company named TSky Balmoral to undertake the redevelopment.
TSky Balmoral will be 70:20:10 owned by TSky Development, Progen Industrial and Seacare.
Progen Industrial and Seacare are wholly-owned subsidiaries of Progen Holdings and private limited company Seacare Property.
Catalist-listed Progen Holdings engages in the design, supply and maintenance of air-conditioning and mechanical ventilation systems in Singapore and Malaysia.
This article, written by Michelle Zhu, first appeared in The Edge Singapore.