OTS Holdings to Dispose 50% Interest in JV With Hogsworld

MT Newswires

2024/12/27

OTS Holdings (SGX:OTS) entered into a sale and purchase agreement with Valencier International to dispose off its entire 50% stake in a joint venture for SG$500,000, a filing with the Singapore Exchange said on Thursday.

The remaining 50% of the joint venture is held by Hogsworld.

The JV's subsidiary has halted its pork supplies, resulting in losses and impairment charges.

Proceeds from the disposal will be used for general working capital.

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