According to the Zhitong Finance App, Indigo Star (08373) announced that on July 22, 2026, CS Ceramiche, a wholly-owned subsidiary of the company, entered into an option agreement with the seller as the buyer, HSBC Institutional Trust Services (Singapore) Limited. The buyer intended to buy the property from the seller for a consideration of SGD 16.58,000.
According to reports, the property includes plot 9962M in Zone 27, 39 Changi South Road, Road 2 (postal code 486352), Singapore, as well as buildings, plants, machinery and electrical equipment, fixtures and accessories on it. The property is currently used for warehouse operations and auxiliary office purposes. According to the option agreement, the seller shall hand over the vacant possession of the property to the buyer upon completion.
The acquisition of this property presents a rare opportunity due to its strategic location and large layout suitable for use as a warehouse and dormitory. The directors believe that the acquisition is expected to benefit the Group in terms of rent savings and relocation cost savings, as the property will be owned by the Group rather than leased, thereby eliminating the need to relocate after the lease expires. Compared to existing leased dormitory facilities, the acquisition will enable the Group to avoid the risks associated with the renewal of the lease, and the Group has no guarantee on the existing lease. Given this uncertainty, when the Group finds a suitable property, it is inclined to acquire dormitory accommodation for foreign employees. Owning the property can provide long-term cost benefits because the Group only has to bear maintenance and operating expenses, while eliminating some rent expenses of approximately SGD 2.2 million (equivalent to approximately HK$13.2 million) under the existing lease, as well as related relocation costs. As a result, it is anticipated that the acquisition will result in sustainable savings on accommodation costs and enhance the Group's overall financial soundness.