Fugen Group disclosed the news after the market closed on Tuesday (June 3) that it had leased a 12,318 square meters industrial site from Jurong Group (JTC) to develop the larger five-story production facility, with a land deed expected to be 33 yea...
Fugen Group disclosed the news after the market closed on Tuesday (June 3) that it had leased a 12,318 square meters industrial site from Jurong Group (JTC) to develop the larger five-story production facility, with a land deed expected to be 33 years.
Fugen Group's share price remained flat at 1.14 yuan on Tuesday.
Construction of the new production facility is expected to begin in the third quarter of 2025 and is scheduled to be completed in the first quarter of 2027. The total construction area of the new facility is estimated to be 28,594 square meters, depending on the final design and development plan.
After the completion of the new plant, it plans to gradually relocate and integrate its manufacturing operations in Singapore, which are currently distributed in different locations: the existing location in Changi North and the factory in Seletar Aerospace Link.It said this is to lay a solid foundation for the Group to "continuously expand Mechatronics business in Singapore." The new plant will expand the Group's production resources to support existing and new projects and consolidate the Group's position to develop with key customers in the coming years. The Group also expects that the new factory can enhance the Group's production capacity and improve production efficiency.
Frencken Group will invest RMB 63 million to build a new production facility in Kaki Bukit. After this larger production facility is completed, it will expand the group's production resources and concentrate production activities.
