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Keong Hong Holdings Takes Steps to Restore Financial Health

Story Highlights
  • Keong Hong Holdings is on the SGX Watch-List for not meeting financial criteria.
  • The company sold its stake in Katong Holdings for S$34.5 million to focus on core business.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
Keong Hong Holdings Takes Steps to Restore Financial Health

Elevate Your Investing Strategy:

Keong Hong Holdings Limited ( (SG:5TT) ) has issued an update.

Keong Hong Holdings Limited, a company listed on the Singapore Exchange, has been placed on the Watch-List due to not meeting the Financial Entry Criteria. The company is actively working to restore its financial health and meet the necessary requirements to avoid delisting. As part of its efforts, Keong Hong has entered into a Sale and Purchase Agreement to sell its equity interest in Katong Holdings Pte Ltd for S$34.5 million. This move is intended to focus on its core business and explore new strategic opportunities, using the proceeds for working capital and potential new ventures.

More about Keong Hong Holdings Limited

YTD Price Performance: 9.89%

Average Trading Volume: 50,623

Technical Sentiment Consensus Rating: Buy

Current Market Cap: S$23.5M

For detailed information about 5TT stock, go to TipRanks’ Stock Analysis page.

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