Kimly Group has completed the acquisition of the coffee shop at #01-104, a big brand in Serangoon Central.

Jinwei announced the news after the market closed on Tuesday (March 11).

In June last year, Jinwei submitted a document on the Singapore Exchange and disclosed that it plans to acquire the coffee shop real estate from Lee Quan Enterprises for a price of 13.15 million yuan.

This real estate is a two-story HDB storefront unit, including a coffee shop on the first floor and a three-bedroom HDB flat on the second floor, with a total floor area of ​​358 square meters. This unit is a 90-year land deed, and there are still about 60 years left.

The group pointed out at the time that the acquisition was in line with the group's strategy of expanding the catering stall network and opening new shops and snack stalls in suitable locations. In addition, the Group will continue to look for opportunities to acquire or operate more coffee shops located in mature residential areas with stable flow of people.

Further reading

A coffee shop in Selonggang Center sold real estate to Jinwei Group for RMB 13 million

A coffee shop in Selonggang Center sold real estate to Jinwei Group for RMB 13 million

Jinwei Group's stock price closed at 0.31 yuan on Tuesday, with no change.