Wharf Land (01997) subsidiary plans to sell the entire issued share capital of Everbilt Developers Pte Ltd for SGD 1,111 billion

According to Zhitong Financial App, Jiulongchang Real Estate (01997) announced that on July 30, 2026, the seller Star Attraction Limited (an indirect wholly-owned subsidiary of the Company) and the Company entered into a sales agreement with the buyer Orchard Scotts Holdings Limited, the buyer's principal guarantor and the buyer's supplementary guarantor as the seller's guarantor. According to the sale agreement, the seller agreed to sell and the buyer agreed to purchase the sale shares (that is, the total issued share capital of the target company) at a price of SGD 1,111 billion, subject to and subject to the terms and conditions contained in the sale agreement.

The target company, Everbilt Developers Pte Ltd, is the property owner and developer, and its sole major asset is the property, namely Huidefeng Plaza, 501 Orchard Road, 238880, Singapore. Huidefeng Plaza is a 21-storey commercial building with a two-story basement. It includes an office building, a pedestal shopping mall and a parking lot. The total floor area is about 43280 square meters.

The Board believes that the transaction is a good opportunity for the Group to cash out its investment in the property, so that the proceeds from the transaction can be used to reduce liabilities. The board of directors believes that the transaction was negotiated in accordance with general commercial terms based on their independent interests, referring to current market conditions, and believes that the terms of the sale agreement are fair and reasonable, and conform to the overall interests of the Company and its shareholders.