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Far East Orchard Ltd , Sekisui House Ltd And Fraser and Neave Ltd's FCL Topaz Pte Ltd Announces Incorporation Of An Associated Company

Wednesday, 31 Jul 2013 09:01am EDT 

Far East Orchard Ltd announced that the Company, has on July 31, 2013, jointly with FCL Topaz Pte. Ltd. (FCLT), a wholly-owned subsidiary of Frasers Centrepoint Limited, which in turn is a wholly-owned subsidiary of Fraser and Neave, Limited (which is listed on the mainboard of the Singapore Exchange Securities Trading Limited) and Sekisui House, Ltd. (SHL), incorporated a joint venture company in Singapore named Watervine Homes Pte. Ltd. (WaterVine Homes), with an issued share capital of SGD1,000,000. The Company, FCLT, and SHL will subscribe for and hold 30%, 40% and 30% in the issued share capital of Watervine Homes respectively. WaterVine Homes will undertake the acquisition and development of a residential property project in Singapore.