Boustead Singapore Limited on Thursday unvieled plans to sell a building under construction and land at Tampines Industrial Avenue 5 in Tampines Wafer Fab Park Singapore for a about S$67.8 million.
After taking into account the estimated costs of the proposed sale and the share of minority interests, the Boustead Group is expected to record a gain of S$17.3 million from the sale.
The property seller is Boustead Projects Investments Pte. Ltd, a wholly-owned subsidiary of Boustead’s 91.7 per cent owned subsidiary, Boustead Projects Pte Ltd.
The sale is the result of the purchaser exercising its option in accordance with the agreement for lease.
Source : Business Times – 10 Dec 2009
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