China Environmental Resources Group (SGX:UIX) has extended the completion deadline for the sale of its subsidiary, First Rank Corporation, and the assignment of a shareholder loan to Aug. 11, according to a Friday filing on the Singapore Exchange.
The extension allows the buyer more time to assess documents linked to a government resumption action on the property. Both parties have agreed to updated terms, including the buyer accepting the property "as is" and waiving specific claims against the seller.
The company said all other terms of the sale agreement remain unchanged.
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