Singapore-based JE Cleantech Holdings Limited (NASDAQ: JCSE) announced that its wholly-owned subsidiary, JCS-Echigo Pte Ltd, has agreed to sell its leasehold industrial property at 17 Woodlands Sector 1, Singapore 738354. The sale, to an independent third-party buyer, is for SGD7,393,000 (USD5,480,000), with closing expected by June 30, 2025. A 5% deposit of SGD369,650 (USD274,000) has been received. The sale is projected to yield a net gain of approximately SGD3.7 million (USD2.7 million) over the property’s net book value. Completion is contingent upon securing the lessor’s approval for the sale and transfer of the property and its unexpired leasehold interest.

CEO and Chairman Elise Hong stated that the property, acquired eleven years ago to house a centralized dishwashing facility, has a remaining leasehold of 19 years. The sale price was deemed favorable, and consolidating manufacturing, dishwashing, and management operations is expected to improve cost efficiency and operations.

About JE Cleantech Holdings Limited

JE Cleantech Holdings Limited, based in Singapore, primarily sells cleaning systems and equipment and provides centralized dishwashing and related services. Through JCS-Echigo Pte Ltd, the company designs, manufactures, and sells cleaning systems for various industrial applications in Singapore and Malaysia, specializing in precision cleaning technologies. Hygieia Warewashing Pte Ltd, a subsidiary, has offered centralized dishwashing services since 2013 and general cleaning services since 2015, mainly to food and beverage clients in Singapore. For more information, visit the company website: [Website Address Removed – Not Provided in Original Text].

Forward-Looking Statements

This announcement contains forward-looking statements, subject to risks and uncertainties. These statements reflect the company’s current expectations regarding future events and their potential impact on its financial condition, results, strategy, and needs. Such statements, often including words like “may,” “will,” “should,” “believe,” “expect,” etc., address future performance and potential financial impacts. The company disclaims any obligation to update forward-looking statements, except as legally required. While the company believes these statements are reasonable, actual results may differ significantly. Investors are advised to review other factors that may affect future results in the Company’s Form 20-F and other SEC filings.

Contact:

Jason Long
Email address: [Email Address Removed – Not Provided in Original Text]
Phone number: +65 63684198
Other number: +65 66029468