Intraco (SGX:I06) entered into a second supplemental deed with TH Investments, Macondray Holdings and Soh Ying Sin to amend terms and conditions of a sale purchase agreement to sell its fire protection business, according to a Monday filing with the Singapore Exchange.
Under the new deed, the transfer of a property located at 71 Tuas View Place, to the company, is no longer a condition precedent.
Upon the completion of the sale of the 71 Tuas View Place 05-01 Singapore by KA Building Construction for SG$730,000, the buyers will procure KA Building to assign all sale proceeds to the company.
Meanwhile, the company has the right to require KA Building to transfer 71 Tuas Place 05-20 free from all encumbrances to the company at the net book value of SG$0.6 million for no consideration, while the buyers will require KA Building to enter into a two-year lease agreement for the property.
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