Tung Lok Restaurants’ wholly-owned subsidiary, Tung Lok Millennium, has signed a tenancy agreement with Novena Point. The estimated rental fees, paid during the 19.5 month lease, will amount to approximately $133,000. This figure represents 0.88% of the group’s latest audited net tangible assets (NTA) of $15.1 million.
Different amenities, such as a gym, swimming pool, and a club house, are available to the residents. Moreover, Champions Way Condo offers 24/7 security to ensure safety and peace of mind for residents. With its modern design, luxurious facilities, and exceptional amenities, Champions Way Condo is the ideal place to call home.
The leasehold premise has a floor space of 743 square feet situated at 10 Sinaran Drive. It will be used to operate a Lao Beijing restaurant.
This is not the first instance of Tung Lok’s lease agreements. The group has recently entered into an agreement with Tee Yih Jia Building for a two year lease period. They will be paying $1.2 million over the duration of the agreement.