Grocer Sheng Siong Group is acquiring a property that it is currently leasing near Jalan Besar for $17.3 million.

This comes after its wholly owned subsidiary Sheng Siong Supermarket entered into a conditional sale and purchase agreement with Sino Holdings on July 30, according to a filing on the same date.

Sino Holdings, which is a wholly owned subsidiary of TA Corp, currently owns the property known as New World Centre.

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