At a glance
- Subsidiary Ohima International signed a conditional agreement to buy the seven-storey light-industrial property for S$103.88 million, excluding GST.[1]
Proposed acquisition
Mi Technovation’s 30 October filing names Kim Hup Lee & Co as the seller of KHL Building, which includes a basement carpark. The purchase is a cash transaction through its wholly owned Singapore subsidiary.[1]
EdgeProp reports that completion is expected in the first quarter of 2027, subject to shareholder approval, other approvals and contractual conditions. The property occupies a 3,988.9 sq m freehold site and has 10,348.4 sq m of gross floor area.[2]
Planned use
The company intends to establish its vehicle-technologies headquarters and global operational hub there, including computing, digital-twin and artificial-intelligence functions. It plans to relocate after the current Queenstown tenancy expires on 30 November 2028.[2]
The agreement also requires the vendor to address fire-protection issues and obtain specified regulatory confirmation. EdgeProp reports that the purchaser has rescission rights if those conditions are not met by the relevant deadlines.[2]
Why it matters
The agreement remains conditional. The intended headquarters relocation and expected completion date describe the buyer’s plans and should not be treated as a completed transfer.
Sources & further reading
- Proposed Acquisition of Property ↗Mi Technovation · 30 Oct 2026 · Accessed 3 Nov 2026
- Mi Technovation plans RM331.8m Singapore building purchase ↗EdgeProp Malaysia · 2 Nov 2026 · Accessed 3 Nov 2026
This is an original AI-assisted summary, not a reproduction of the source article. Context is our interpretation. Editorial policy · Report an issue