AF Global Limited said on Oct, 10 2025 that the Singapore Exchange has granted a waiver allowing the company to proceed with the sale of its 55 % stake in Knight Frank Pte Ltd without seeking shareholder approval at an extraordinary general meeting.

The group’s wholly owned unit, Cheong Hock Chye & Co. (Pte.) Ltd., signed a sale-and-purchase agreement on Oct, 7 2025 to dispose of 550,000 shares to Knight Frank Asia Pacific Pte Ltd for 36.9 million Singapore dollars in cash.

With the waiver conditions met—including written board confirmations and irrevocable undertakings from shareholders holding about 72.6 % of voting rights—the company has waived the only remaining condition precedent in the agreement. Completion is now scheduled for Oct, 17 2025.

AF Global expects an estimated disposal gain of about 3.4 million Singapore dollars. The transaction will remove a non-core asset and strengthen the group’s cash position while leaving its hospitality operations in Thailand, Vietnam and Laos unchanged, the company said.