CFM Subsidiary Grants Sale Options for Property for SG$2.2 Million
MT Newswires
Jun 09
CFM (SGX:5EB) subsidiary CFM Infratrade has granted two options to Kirona for the potential sale of its leasehold interest in two industrial units at 3 Ang Mo Kio Street 62, #05-15 and #05-16, LINK@AMK, Singapore for SG$2.2 million.
As of June 6, the options have not been exercised but may be taken up between Oct. 1 and 14, according to a Friday Singapore bourse filing.
Unit #05-15 is currently vacant while unit #05-16 is still being used as the company's office. Plans are in place to relocate operations to a new site.
Net proceeds of about SG$627,000 from the sale will go toward the subsidiary's working capital after repayment of borrowings.
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.