<div id="readability-page-1"><div>[SINGAPORE] Harvey Norman operator Ossia on Wednesday (Dec 10) said it set up a new special purpose vehicle, Ossia Capital, to hold its property investment entities.Ossia Capital in turn established a property investment unit, OSA 1, which will buy a leasehold property at 21 Tan Quee Lan for S$14 million from Santa Grand Investments.Ossia Capital will also acquire all of privately owned Global Ten Realty (GTR) for S$5.5 million from Messrs Eastern Garden Development, Siah Seng Koon, Ng Cheng Lock and Siah Siew Keok. GTR, which lets self-owned or leased real estate property, owns a leasehold property at 10 Bussorah Street.Ossia said the acquisitions will “generate stable cash flows” and “create long-term value”, given rental yield exceeds fixed deposit rates. “The investment strategy allows the company to deploy excess cash optimally, and this strategic move aligns with the company’s commitment to delivering sustained value creation for the shareholders of the group,” it added.It said it does not believe the moves will result in a “significant change” to its risk profile as the proposed acquisitions are investments in physical property assets.Both purchases will be funded through a combination of internal resources and bank financing.The acquired property at unit numbers #01-03 and #01-03A of 21 Tan Quee Lan has a tenure of 999 years, which commenced in January 1827. It has an area of 271 square metres and its purchase is set to be completed on Mar 4 next year.GTR-owned 10 Bussorah Street has a tenure of 99 years, which commenced in December 2003.The letting company’s unaudited net tangible asset value was about S$240,000 as at Sep 30. Its net loss after tax for the financial year was about S$38,473. Ossia said the incorporation of both the new subsidiaries is not expected to have any material impact on the net tangible assets per share or earnings per share of the company for the current financial year.If the acquisitions had been completed on Jun 30, the gearing ratio would have increased from zero to about 23.8 per cent, with total borrowings of S$15.6 million.In May, the controlling shareholders of the mainboard-listed company made an unconditional offer to take the lifestyle products retailer and distributor private at S$0.16 a share.Shares of Ossia ended flat at S$0.179 on Wednesday, before the announcement.</div></div>

奧斯國際

Ossia，哈維·諾曼的運營商，已成立一個新的特殊目的公司 Ossia Capital，以管理房地產投資。Ossia Capital 已設立 OSA 1，以 1400 萬新元收購位於 21 Tan Quee Lan 的租賃物業，並將以 550 萬新元購買 Global Ten Realty。這些收購旨在產生穩定的現金流，並與 Ossia 的長期價值創造戰略相一致。這些購買將通過內部資源和銀行融資進行，預計對 Ossia 的財務指標不會產生重大影響

Harvey Norman 的運營商奧斯國際設立新部門；購買租賃物業和 Global Ten Realty