SINGAPORE (Dec 30): AEI Corporation has entered into a put and call option agreement to sell its premises at 12 Penjuru Lane in western Singapore to logistics provider ACW Holdings for $19 million – more than 10 times the book value of the property.

The single-storey property was used as the main venue for AEI’s manufacturing and extrusion activities before it relocated to its Tuas South factory in January 2017.

The land was leased from the Jurong Town Corporation (JTC) with a tenure of 30 years from June 1, 2013.

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