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Kim Heng Ltd ( (SG:5G2) ) has provided an announcement.
Kim Heng Ltd. has announced the proposed sale of its property at 48 Penjuru Road, Singapore, to Greentec Energy Pte. Ltd. for S$13.5 million. This transaction involves Kim Heng’s subsidiary, Kim Heng Marine & Oilfield Pte. Ltd., and is contingent upon fulfilling certain conditions, including reinstatement works and investment criteria set by the Jurong Town Corporation. The sale is expected to impact Kim Heng’s operations by potentially freeing up resources and allowing the company to focus on its core marine and oilfield services, while Greentec Energy, engaged in waste recycling and marine services, will acquire a strategic property.
More about Kim Heng Ltd
Kim Heng Ltd., incorporated in Singapore, operates in the marine and oilfield services industry through its subsidiary, Kim Heng Marine & Oilfield Pte. Ltd. The company focuses on providing a range of services related to marine and oilfield operations.
YTD Price Performance: -16.67%
Average Trading Volume: 334,191
Technical Sentiment Signal: Hold
Current Market Cap: S$52.95M
See more insights into 5G2 stock on TipRanks’ Stock Analysis page.