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.
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.