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Keong Hong Holdings Limited ( (SG:5TT) ) just unveiled an update.
Keong Hong Holdings Limited has announced the proposed disposal of its 20% stake in Katong Holdings Pte Ltd for S$34.5 million. This decision is part of a strategic move to optimize its investment portfolio, as the net asset value of KHPL was reported at $292.77 million, implying a higher value for the stake. The disposal is expected to have implications on the company’s financial positioning, potentially impacting its stakeholders and market focus.
More about Keong Hong Holdings Limited
Keong Hong Holdings Limited is a company incorporated in Singapore, operating with its subsidiaries in various sectors. The company is involved in the hospitality industry, owning stakes in properties such as Hotel Indigo Singapore Katong, Holiday Inn Express Singapore Katong, and Katong Square, a retail component.
Average Trading Volume: 27,680
Technical Sentiment Signal: Sell
Current Market Cap: S$25.85M
Find detailed analytics on 5TT stock on TipRanks’ Stock Analysis page.