China Next-Gen Commerce to sell Singapore property for S$8.8m

China Next-Gen Commerce and Supply Chain Limited has announced the disposal of a property in Singapore for S$8.8 million. The transaction involves the company's indirect wholly-owned subsidiary, Sing Tec Development, and Poh Wah Group as vendors, granting an Option To Purchase to 2K Property Pte Ltd. on November 10, 2025. The property, located at 114 Lavender Street, CT Hub 2, Singapore 338729, comprises a part 13/part 10-storey light industrial building and an 18-storey office building.

The S$8.8 million consideration will be paid in installments, starting with an S$88,000 option fee, S$352,000 upon exercising the option, and the balance of S$8,360,000 upon completion. The sale is expected to be completed on December 30, 2025. The property's market value was S$8.6 million as of October 8, 2025, according to a valuation report by GB Global Pte. Ltd.

The group expects to record a gain of approximately S$34,000 from the disposal, with net proceeds of approximately S$4.3 million attributable to the group. These proceeds are slated for general working capital and to repay existing indebtedness of Sing Tec Development. This disposal constitutes a discloseable transaction under Chapter 14 of the Listing Rules.