Vibrant Group Nears Disposal of Leasehold Singaporean Property After Obtaining Property Assignment Approval

MT Newswires

08/27

Vibrant Group (SGX:BIP) said it received written confirmation from Jurong Town Corporation (JTC) for the approval of a property assignment in relation to the disposal of a leasehold property located in Changi South Avenue 2, Singapore, according to a Tuesday filing with the Singapore Exchange.

Shares of the company were down nearly 2% in Wednesday trading.

Vibrant Group and its subsidiary Freight Links Properties are now awaiting the JTC consent letter for the assignment/transfer of lease, which will be issued in due course, the filing said.

Under the consent letter, the transaction will be completed within six weeks of obtaining a no-objection letter from the JTC.

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