Wong Fong Industries Limited Announces Progress in Disposal of 16 Tuas Avenue 6 Property

Key Developments in Property Disposal

Wong Fong Industries Limited has provided an important update regarding the proposed disposal of its property located at 16 Tuas Avenue 6. The Company announced that, as of 24 November 2025, the purchaser has officially exercised the Option to acquire the property. In line with contractual requirements, the purchaser has made a payment of S\$422,750, representing 5% of the total consideration less the previously paid Option Fee. This sum has been paid into Wong Fong Engineering’s (WFE) solicitors’ account.

Implications for Shareholders

It is crucial for shareholders and potential investors to note that, while the option has been exercised and the initial payment secured, completion of the disposal transaction remains subject to several conditions specified in the Option agreement. These conditions must be fulfilled before the transaction can be finalized. The Company has committed to providing further announcements as material developments occur.

Potential Impact on Share Value

The disposal of this property could have significant financial implications for Wong Fong Industries Limited. Investors should be aware that such a transaction could affect the Company’s asset base, liquidity, and potentially its future strategic direction. The progress and eventual completion of the property sale may be price-sensitive and could influence the Company’s share value, especially if the disposal leads to notable changes in the Company’s financial standing or operational plans.

Advisory for Investors

The Board has advised shareholders and potential investors to exercise caution when dealing in the Company’s securities at this stage. Given that the disposal is not yet complete and remains subject to the fulfilment of specific conditions, uncertainty persists until all requirements are met. Those unsure about their course of action are encouraged to seek advice from professional advisers such as stockbrokers, bank managers, or solicitors.

Regulatory and Sponsor Information

The announcement has been prepared and reviewed for compliance with the relevant Catalist Rules by United Overseas Bank Limited (UOB), the Company’s sponsor. Notably, the Singapore Exchange Securities Trading Limited (SGX-ST) has neither examined nor approved the contents of this announcement and does not assume responsibility for any statements or opinions expressed herein.

Contact Information

For further inquiries, investors may reach out to Ms. Priscilla Ong, Vice President of Equity Capital Markets at UOB, located at 80 Raffles Place, #03-03 UOB Plaza 1, Singapore 048624. Telephone: +65 6533 9898.

Disclaimer: This article is intended for informational purposes only and does not constitute financial advice. Investors should conduct their own due diligence and consult professional advisers before making any investment decisions. The completion of the property disposal is still subject to certain conditions, and there can be no assurance that the transaction will be finalized.

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