Boustead Singapore (SGX:F9D) said it is exploring the "unlocking of value" from a freehold asset in a "prime location with potential upside from business travelers and the tourism industry," according to a Monday bourse release.

The company was responding to an article by The Business Times, which claimed that a Boustead Singapore-led joint venture is expected to put Como Orchard on the market with an asking price of about SG$680 million.

However, the group says that while it receives regular enquiries from potential interested buyers, there is no certainty that such activities will result in any transaction.

Shares of the property developer were up nearly 4% in recent trading.