Kingsmen Creatives Completes Disposal of Malaysian Property; Shares Up Nearly 4%

MT Newswires

Dec 13, 2024

Shares of Kingsmen Creatives were up nearly 4% in recent trading.

Price (SGD): S$0.27, Change: S$+0.010, Percent Change: +3.85%

Kingsmen Creatives (SGX:5MZ) completed the disposal of a property located in Mukim Senai in Johor, Malaysia, according to a filing with the Singapore Exchange on Wednesday.

In an earlier filing, the company, through its subsidiary, K-Fix Production, had entered into a sale and purchase agreement with Hiroyuki Industries to sell the 37,104 square meter property for an aggregate consideration of 46.0 million ringgit.

Net proceeds from the disposal will be used for the repayment of a bank loan secured by the property and for the general working capital requirements of the vendor.

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