SingPost to divest 14 HDB units for S$55.5 million
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Singapore Post (SingPost) announced the divestment of 14 HDB units for S$55.5 million, with a leaseback option for three years. The buyer, Trans Realty, is a subsidiary of Trans-Cab Holdings. The properties, acquired between 1989 and 1996, have a book value of S$6.4 million. SingPost expects a gain of S$49.1 million from the sale, which will support working capital and corporate purposes. The disposal is part of a strategy to focus on core business operations. Pro forma earnings per share would increase from S$0.109 to S$0.131 if completed by April 1, 2024.
Source: Businesstimes The copyright of this article belongs to the original author/organization.
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