Jubilee Industries (SGX:NHD) wholly owned subsidiary, WE Total Engineering, agreed to sell its plastic business to MClean Technologies, according to a filing with the Singapore Exchange on Tuesday.
The company expects to receive gross proceeds of around 6.0 million ringgit from the proposed disposal, which it plans to conserve for the group's working capital needs.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.