Union Steel Holdings Arm Signs Pact to Sell Property for SG$2.9 Million
MT Newswires07-29 12:30
Hock Ann Metal Scaffolding, a wholly-owned subsidiary of Union Steel Holdings (SGX:ZB9), has entered into a binding agreement to sell its property on 41 Middle Road, Singapore, for SG$2.9 million, according to a Tuesday filing to the Singapore stock exchange.
The company's shares were up over 1% in Wednesday's trade.
The property will be sold to Spike Brothers and is expected to result in an estimated gain of approximately SG$820,000.
On July 11, Hock Ann had granted the option to purchase to Spike Brothers, who exercised the option on Tuesday by paying a deposit.
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