SINGAPORE (Jan 2): PCI Limited has entered into a conditional sale and purchase agreement to acquire a property at 35 Pioneer Road North from Amtek Precision Technology.

PCI Limited intends to relocate to the new property and use it as the new headquarters for its electronic manufacturing services, including design and development, materials engineering and qualification testing, manufacturing engineering and prototype production and testing services, as well as for its supply chain management and logistics services.

The property covers a land area of 7,688.70 square metres. The sale includes Automatic Storage and Retrieval System installed in the warehouse located on the ground floor of the building erected on the property.

PCI Limited said the property is held under a lease granted by the Jurong Town Corporation to the vendor for a term of 30 years starting from 1 May 1993 and expiring on 30 April 2023, with a covenant by JTC to grant a further term of 30 years from 1 May 2023 to 30 April 2053.

PCI Limited closed the day flat at 43.5 cents.