Emerging Towns & Cities Completes Sale of Subsidiary DAS

MT Newswires

2024/12/27

Emerging Towns & Cities Singapore (SGX:1C0) has completed the sale of unit DAS to Grand Ally Investments for SG$4 million, according to a Thursday filing on the Singapore Exchange.

The property developer has received SG$2 million for the deal, with the remaining SG$2 million payable in two tranches within 12 months.

The transaction includes a collateral agreement securing the payment against property units valued at SG$3.1 million and the release of Emerging Towns & Cities Singapore from a $33 million corporate guarantee tied to Golden Land Co.

Emerging Towns & Cities shares have remained suspended since March 2021.

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Cities Singapore (SGX:1C0) has completed the sale of unit DAS to Grand Ally Investments for SG$4 million, according to a Thursday filing on the Singapore Exchange.</p><p>The property developer has received SG$2 million for the deal, with the remaining SG$2 million payable in two tranches within 12 months.</p><p>The transaction includes a collateral agreement securing the payment against property units valued at SG$3.1 million and the release of Emerging Towns &amp; Cities Singapore from a $33 million corporate guarantee tied to Golden Land Co.</p><p>Emerging Towns &amp; Cities shares have remained suspended since March 2021.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK6512","symbol_name":"房地产股","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2494881301","we_media_id":"1060499803","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2494881301","pubTimestamp":1735251837,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"MT Newswires","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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