Oceanus Group Reports Fulfilment of Condition Precedent of Sale of Property

MT Newswires

2024/12/31

Oceanus Group (SGX:579) received a payment of 1.0 million yuan, a condition precedent to the sale of its Fotan Farms property by its wholly owned subsidiary, Oceanus China Aquaculture, a filing with the Singapore Exchange said on Monday.

In an earlier filing, the company had entered into an agreement for the sale of its property in Fujian, China, in a deal worth SG$19.2 million.

The property, which has a carrying value of SG$8.7 million as of June 30, includes land and aquaculture facilities. The sale is expected to generate a gain of SG$10.5 million.

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