Mooreast Holdings Ltd. Announces Major Amendments to Proposed Property Acquisition at 60 Shipyard Crescent, Singapore

Key Highlights for Investors

• Purchase Price Reduced: Mooreast Holdings Ltd. has renegotiated the purchase price for the property at 60 Shipyard Crescent, Singapore, reducing it from S\$13.5 million to S\$12.5 million. This S\$1 million reduction could positively impact the company’s financial position and future earnings.
• Expansion of Property Scope: The acquisition now also covers two additional lots:
  • Private Lot A7022038 on Lot 5291C of Mukim 7 (2,697.30 sqm)
  • Private Lot A3004308 on Lot 4879C of Mukim 7 (217.50 sqm, known as the “Foreshore Lot”)

  Notably, the inclusion of these lots comes without any increase in the revised purchase price, potentially enhancing the value proposition for shareholders.

• Demolition and Property Adjustments: The agreements record mutual acknowledgement regarding the demolition of certain structures on the property, which may affect operational plans and future asset utilization.
• Reimbursement of Additional Costs: Upon completion, Mooreast Asia Pte. Ltd. (the purchaser) will reimburse the seller for several key costs paid to authorities, including:
  • Land premium (until 19 August 2030, inclusive of GST)
  • Prepaid waterfront fees (inclusive of GST)
  • Costs for variation of lease for both Lot 4022P and Lot 4097V (inclusive of GST)
  • Stamp duty for the Additional Property, pro-rated to 19 August 2030

  The estimated total reimbursement is approximately S\$0.2 million if completion occurs in March 2026.

• Conditions Precedent: Completion of the acquisition remains subject to the fulfillment of various conditions precedent. There is no guarantee that the transaction will proceed as contemplated.

Detailed Overview of the Amended Agreements

The Board of Directors of Mooreast Holdings Ltd. announced the entry into two supplemental agreements relating to the previously disclosed Option to Purchase (OTP) for the acquisition of the property and associated plant, equipment, and machinery at 60 Shipyard Crescent.
These amendments reflect several significant changes:

1. Price Adjustment: The acquisition price has been reduced by S\$1 million to S\$12.5 million, a substantial saving for shareholders.
2. Scope Expansion: The purchase now also includes two additional land parcels, expanding Mooreast’s land bank and possibly its operating capacity, all at the same overall price.
3. Demolition Provisions: Both parties have acknowledged the demolition of certain structures, which could impact future operational plans or redevelopment value.
4. Cost Reimbursements: On completion, Mooreast will reimburse the seller for land premiums, waterfront fees, lease variation costs, and pro-rated stamp duty, with aggregate costs estimated at S\$0.2 million if completed in March 2026.

All other clauses in the OTP remain unchanged unless expressly amended in the supplemental agreements.

Shareholder Considerations and Potential Share Price Impact

• Material Amendments: The reduction in purchase price and inclusion of additional lots (without price increase) could be viewed positively by the market, potentially supporting share price appreciation, as Mooreast secures more assets for less capital outlay.
• Uncertainty Remains: The acquisition is still subject to various conditions precedent. There is no assurance that the deal will be completed as planned, which introduces an element of risk for shareholders.
• Regulatory Disclosures: The Company has made the OTP and supplemental agreements available for inspection at its registered office for three months, ensuring transparency.

Cautionary Statement

Shareholders are strongly advised to exercise caution when trading in the company’s shares given the remaining uncertainties around the completion of the acquisition. Investors should review all related announcements and consult their professional advisers if in doubt.

Disclaimer: This article is for informational purposes only and does not constitute financial advice or an offer to buy or sell any securities. The information is based on company announcements as of 30 January 2026 and may be subject to change. Investors should perform their own due diligence and consult professional advisers before making investment decisions.

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