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The Japanese department store operator revealed that it may appoint property agents and valuers to assist the company and to commence exploratory discussion with third parties.
Isetan (Singapore) is “exploring its options” relevant to its property investment at Wisma Atria building.
In an SGX filing, the Japanese department store operator revealed that it may appoint property agents and valuers to assist the company and to commence exploratory discussion with third parties.
“Shareholders and potential investors should note that all options regarding Isetan Wisma Atria are being evaluated by the company and no definitive decision or agreement has been made or entered into by the company,” it said.
The company added that it will make the necessary announcement should there be any developments that would materially affect the company’s shares.
It advised potential investors and shareholders to exercise caution when dealing in shares of the company.
“In the event of any doubt, potential investors and shareholders of the Company should consult their stockbrokers, bank managers, solicitors, accountants or other professional advisers,” it said.
The Business Times reported that YTL Starhill Global Reit (SGReit) Management had issued a letter of intent to Isetan in 2019 to open talks on acquiring the latter’s share in Wisma Atria.
However, the two later announced that no decision was made.
SGREIT owns around 74% of the total share value of strata lots at Wisma Atria, while Isetan Singapore owns the rest.
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