Solis Unit Grants Option to Sell Singapore Property for SG$21 Million

MT Newswires Live

02/03

Solis Holdings (HKG:2227) said its indirect wholly owned subsidiary, Sing Moh Electrical Engineering, granted an option to Straits Teamwork to purchase a Singapore property for SG$21 million, according to a Monday Hong Kong bourse filing.

An option fee of SG$210,000 has been paid, with the remaining consideration to be settled upon exercise and completion, which is scheduled for March 31, the filing said.

The group expects to record an unaudited disposal gain of about SG$6.5 million, with proceeds to be used as general working capital.

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