Guoco Group (HK:0053) has released an update.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
GuocoLand, through its subsidiary GLS, has entered into a 60/40 joint venture with Intrepid for a significant real estate development project in Singapore, near Springleaf MRT Station, which could generate around 940 residential units. The venture, involving a land parcel at Upper Thomson Road acquired for S$779.6 million, will see GLS contribute approximately S$178.9 million. The agreement, which is a connected transaction due to Intrepid’s association with GuocoLand’s substantial shareholder, is subject to reporting and announcement requirements but not independent shareholder approval.
For further insights into HK:0053 stock, check out TipRanks’ Stock Analysis page.
