Golden Village sells Yishun 10 Cinema to Frasers subsidiary for $48m

Net proceeds will be used to repay bank loans and for general working capital.

Golden Village Multiplex Pte. Ltd. has agreed to sell its Yishun 10 cinema property to Lion (Singapore) Pte. Limited, a wholly owned subsidiary of Frasers Property, for $48m.

The deal, signed on 2 June 2025, includes a leaseback arrangement allowing GV to continue operating the cinema after the sale is completed, Orange Sky Golden Harvest Entertainment said in a statement.

Lion has paid a 10% deposit of $4.8m, which will go toward the final purchase price upon completion.

If shareholders do not approve the deal, the deposit will be refunded. If the buyer cancels for other reasons, the deposit will be forfeited.

An additional $2m will be paid to GV if the buyer secures redevelopment approval within 12 months of completion.

The property, located at 51 Yishun Central 1, #02-01, currently operates as a GV cinema.

The $48m price matches a recent valuation done on 28 May 2025. All applicable GST will be paid by the buyer.

GV said it is selling the property to improve its financial position and raise working capital. The leaseback lets the company continue business operations at the same location.

The property had a book value of $45.08m as of 31 December 2024.

The sale is expected to generate a gain of about $4.92m, assuming the additional $2m is received.

Approximately 62.5% of the proceeds will go toward repaying existing bank loans, whilst the remaining 37.5% will support the group's operating needs