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The latest announcement is out from USP Group Limited ( (SG:BRS) ).
USP Group Limited, which is currently under judicial management in Singapore, operates through various subsidiaries, including property-related entities such as Koon Cheng Development Pte Ltd. The company’s shares remain suspended from trading on the Singapore Exchange as part of its ongoing restructuring and judicial management process.
The company announced that its indirect wholly owned subsidiary, Koon Cheng Development Pte Ltd, has entered into a settlement agreement with Royal’s Engineering & Trading (S) Pte Ltd, the purchaser of a previously disposed mortgaged industrial property at Woodlands Industrial Park, to resolve claims relating to expenses, liabilities and payments tied to the asset as at the sale completion date of 22 February 2024. The move helps clarify outstanding financial obligations linked to the disposed property, while the trading suspension of USP Group’s shares, in place since 23 February 2024, remains unchanged.
More about USP Group Limited
Technical Sentiment Signal: Sell
Current Market Cap: S$3.79M
Find detailed analytics on BRS stock on TipRanks’ Stock Analysis page.