CosmoSteel (SGX:B9S) subsidiary, Kim Seng Huat Hardware, and Tenda Equipment and Services have agreed to an extension of time of three months for the disposal of the company's property located at 90 Second Lok Yang Road.

The proposed disposal is subject of certain conditions and approvals from the Jurong Town Corporation, which have so far not been met. The approvals are likely to be obtained within the timeframe of the extension period.

In an earlier filing, Kim Seng Huat, accepted an offer from Tenda Equipment to sell its the property for SG$9.0 million. The property has been leased to Jurong Town Corporation and is being utilized as a warehouse.