On 20 July 2016, TTJ Holdings Ltd has announced that "BCA has not granted the Group’s application for a renewal for a further term of the tenancy for the Terusan Dormitory. Currently, the Terusan Dormitory houses approximately 5,300 workers and is the only workers dormitory operated by the Group.
The Board also wishes to inform shareholders that the Group has been successful in securing the tender for the management and operation of an existing foreign workers dormitory situated at Upper Jurong Road (the “Jurong Dormitory”). The tenancy for the Jurong Dormitory will be for approximately 3 years commencing on 1 August 2016 and ending on 30 July 2019. The Jurong Dormitory has a capacity of approximately 500 workers.
The Group’s Dormitory business contributed approximately 20.3% or S$19.1 million of the Group’s revenue for FY2015. Accordingly, the non-renewal of the Terusan Dormitory is expected to have a material ......
