LHN Limited expands property development with new joint venture

LHN Limited, through its indirect wholly-owned subsidiary WPSTPY, has announced a joint venture agreement dated October 22, 2025. This agreement is with Macritchie Developments Pte. Ltd. (MAC), KSH Blazar Pte. Ltd., CP-Tagore Pte. Ltd., Soon Hock Fortune Pte. Ltd., Petrus Capital Holdings Pte. Ltd., Tay Lian Xie Tarol, and Chin Hong Oon, collectively referred to as the JV Shareholders, and Thomson Gem Pte. Ltd., the JV Company. The JV Company was incorporated on October 13, 2025, with an initial share capital of S$100.00, held entirely by MAC.

The JV Company will issue 900 new ordinary shares of S$1.00 each, with WPSTPY subscribing for 50 shares. Upon completion of the allotment, the JV Company's total shares will be 1,000, with MAC holding 26.5%, KSHB 25.0%, CP 22.5%, SHF 10.0%, PCH 5.0%, WPSTPY 5.0%, TAY 3.0%, and CHO 3.0%. The purpose of the joint venture is to redevelop the property at 680 Upper Thomson Road, Singapore 787103, after completing its purchase and securing necessary approvals.

This venture enables LHN Group to expand its property development business, spreading development risks and leveraging the complementary resources and expertise of other JV Shareholders. The company does not anticipate any material financial impact on its consolidated net tangible assets per share and earnings per share for the fiscal year ending September 30, 2026.