MTQ Completes Disposal of PEMAC

MT Newswires

04/15

MTQ (M05) completed the disposal of PEMAC after the buyer paid a first tranche sale price of SG$3.2 million, according to a filing with the Singapore Exchange on Monday.

In an earlier filing, the company had entered into a sale and purchase agreement with Sidi Investment Holdings for the disposal of its subsidiary, Pemac, for an aggregate consideration of SG$5.5 million.

Net proceeds from the disposal will be used to fund and reinforce primary operations, to reinvest in other core business segments and for general working capital purposes.

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