Roxy-Pacific Holdings says wholly-owned subsidiary RP Properties has agreed to purchase all 14 strata residential units at Kovan Centre at 9 Yio Chu Kang Road for $18.3 million. This adds to the 37 retail units it already owns in the same building.

Upon completion of the purchase, Roxy-Pacific Holdings shall own the entire four-storey freehold retail-cum-residential Kovan Centre.

The group says the cost of the purchase will be financed by internal funds and bank borrowings, and is not expected to have any material impact on the group’s consolidated earnings and net tangible assets per share of the company in the current financial year ending Dec 31, 2009.