Keong Hong (SGX:5TT) and MCSK mutually agreed to extend the completion date of the proposed disposal of a 20% stake in Katong Holdings to June 30, according to a Tuesday filing with the Singapore Exchange.
In an earlier filing, the company's wholly owned subsidiary, Keong Hong Construction, entered into an agreement to dispose of its 20% stake in Katong Holdings to MCSK for SG$34.5 million.
Shares of the construction and property development company surged over 7% in recent trading.
Price (SGD): S$0.08, Change: S$+0.0050, Percent Change: +7.04%
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.