CosmoSteel Unit Grants Tenda Equipment Option to Purchase Warehouse

MT Newswires

2024/09/04

ComsoSteel (SGX: B9S) subsidiary KSH Singapore granted Tenda Equipment and Services an option to purchase its warehouse in Singapore for an option fee of SG$90,000 or 1% of the consideration, according to a filing with the Singapore Exchange on Tuesday.

The company had earlier signed a letter of offer for the disposal of the warehouse located at 90 Second Lok Yang Road for SG$9.0 million.

CosmoSteel expects to receive proceeds of about SG$5.9 million from the proposed disposal, which is expected to take place in the third quarter of 2025. The company plans to use these proceeds for general working capital.

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