<div class=newsTextDataWrapInner><p>SINGAPORE (Jan 28): Neo Group is acquiring the property located at 22 Senoko Way from Country Foods to enlarge its working premises and cold room facility.</p></div>

<div class=newsTextDataWrapInner><p>Country Foods is a wholly owned subsidiary of airport groundhandler and inflight caterer SATS.</p></div>

<div class=newsTextDataWrapInner><p>The total purchase consideration for the proposed acquisition is $15 million through a 55% subsidiary of wholly-owned entity Thong Siek Food Industry (TSF).</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The property has a total land area of 14,807.2 sqm. The remaining lease of the property with Jurong Town Corporation (JTC) expires in year 2050 and the lease will be assigned to TSF upon completion of the acquisition.</p></div>

<div class=newsTextDataWrapInner><p>“The existing premises at 14/14A Senoko Way in which TSF is located is smaller, with a total land area of 6,159.8 square metres and has reached maximum utilisation.. The Property has an existing cold room facility which is expected to generate rental savings of approximately $840,000 per year for TSF,” says Neo in its filing.</p></div>

<div class=newsTextDataWrapInner><p>The purchase consideration will be funded through internal resources of the group and bank borrowings, Neo adds.</p></div>

<div class=newsTextDataWrapInner><p>Neo closed 0.82% lower at 60.5 cents on Thursday.</p></div>


SINGAPORE (Jan 28): Neo Group is acquiring the property located at 22 Senoko Way from Country Foods to enlarge its working premises and cold room facility.

Country Foods is a wholly owned subsidiary of airport groundhandler and inflight caterer SATS.

The total purchase conside...

Neo Group acquires Country Foods property at 22 Senoko Way for $15 million

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