Wise financial and economic news app, bhcc holding (01552) announced that on October 1, 2024, the company's indirectly wholly-owned subsidiary, BHCC Projects, along with other bidders, have jointly submitted a bid to the tenderer to lease land in Singapore for the development of industrial business (limited to food). In accordance with the tender requirements, a bid security deposit of not less than 5% of the bid price (including approximately 4 million Singapore dollars of BHCC deposit) has been paid to the tenderer. If the bid is accepted, the bid security deposit will be part of the bid price payment; otherwise, if the bid is not awarded, the bid security deposit will be refunded to the bidder within one week after the award.

Before paying the bid security deposit, BHCC Projects signed a pre-bid agreement with other bidders, which includes a plan to jointly submit a bid and an intention to establish a joint venture company after the bid is accepted, including leasing and developing land for industrial business (limited to food).