Sanli Environmental Limited has completed its acquisition of 22 Chin Bee Drive, Singapore 619870 for S$13.8 million from Perpetual (Asia) Limited. This acquisition is a 4-storey height single user factory with a 6-storey ancillary office and a 5-storey annex building with a workers’ dormitory. Comprising a total gross floor area of 120,653 square feet, it has a remaining 12 years on its lease from Jurong Town Corporation which expires on 15 September 2035. Sanli has plans to seek an extension of the Property’s lease at the appropriate juncture.
Through the acquisition, Sanli aims to streamline its corporate office and workshops, while also providing a centralised accommodation solution for its foreign workforce of up to 270 workers, allowing Sanli to effectively address the dormitory shortage that previously hampered its operations.
Sanli’s operations and maintenance workshop and its magnesium hydroxide slurry manufacturing operation under wholly owned subsidiary Mag Chemical Pte. Ltd., will also be consolidated at the new location. This will enhance management’s oversight of all the business units, increase operational efficiencies, lower overall operating costs and reduce its reliance on third party dormitory facilities.
Mr Sim Hock Heng, Executive Director and Chief Executive Officer of Sanli commented: “The consolidation of the Group’s operations in one location will allow us to address the shortage of dormitory facilities in Singapore and it will enhance our operating efficiencies while lowering our operating costs for the long term. The Group will also be in a better position to plan the growth of its different businesses for the longer term, even in an uncertain global macro-economic environment.”
Following this acquisition, Sanli will dispose of its leasehold properties at 15 Kian Teck Drive, Singapore 628832 and 28 Kian Teck Drive, Singapore 628845 for S$3.0 million and S$4.95 million respectively.
Sanli’s share price as of 15 September 2023 after market close was S$0.098.
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About Sanli Environmental Limited
Listed in 2017 on the SGX-Catalist, Sanli Environmental Limited (“Sanli”) is an environmental engineering company in the field of water and waste management. Sanli’s expertise is in the design, supply, delivery, installation, commissioning, maintenance, repair and overhaul of mechanical and electrical equipment as well as process, instrumentation and control systems in wastewater treatment plants, water reclamation plants, NEWater plants, waterworks, service reservoirs, pumping stations and incineration plants.
The Company’s business is divided into two main business segments. The Engineering, Procurement and Construction segment provides engineering, procurement and construction services within the field of water and waste management including process upgrading of existing water treatment plants, upgrading of pumping station capacities, replacement of aged mechanical and electrical equipment, and design and build of various treatment process systems. The Operations and Maintenance segment provides corrective and preventive maintenance services to ensure reliability and minimal disruptions to its customers’ operations.
Backed by its strong engineering capabilities, Sanli has the ability to integrate mechanical, electrical and process engineering expertise to provide customised, cost- and time-efficient integrated engineering solutions and services to its customers.
