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TEHO backs out of MacPherson deal

By hockmeng.tay@bizedge.com

February 15, 2015 12:00 AM SGT

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TEHO International Inc announced that it was not proceeding with the proposed acquisition of an industrial building located at 459 Macpherson Road. It had announced in November 2014 that, following the payment of $115,000, it had been granted the option to purchase the property by the owner, Homeland Construction Pte Ltd, an independent and unrelated party. The total purchase price for the property was $11.5 million, excluding GST. The 10% deposit paid by TEHO has since been fully refunded.TEHO International Inc announced that it was not proceeding with the proposed acquisition of an industrial building located at 459 Macpherson Road. It had announced in November 2014 that, following the payment of $115,000, it had been granted the option to purchase the property by the owner, Homeland Construction Pte Ltd, an independent and unrelated party. The total purchase price for the property was $11.5 million, excluding GST. The 10% deposit paid by TEHO has since been fully refunded.

This article appeared in the City & Country of Issue 664 (Feb 16) of The Edge Singapore.

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