Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
USP Group Limited ( (SG:BRS) ) has issued an update.
USP Group’s indirect subsidiary, Supratechnic Properties Sdn Bhd, has signed a Letter of Offer and Acceptance with an independent buyer to sell its industrial property at Bukit Jelutong Industrial Park in Shah Alam, Selangor, for RM20 million. The proposed disposal is subject to a formal sale and purchase agreement, requisite corporate and Singapore Exchange approvals, and discharge of the existing charge on the asset.
The planned sale forms part of ongoing efforts under judicial management to unlock value from the group’s property portfolio and potentially strengthen its financial position. Trading in USP Group’s securities, which has been suspended since 23 February 2024, remains halted while investors await further updates on the transaction’s completion and any broader implications for the restructuring process.
More about USP Group Limited
USP Group Limited, incorporated in Singapore and currently under judicial management, operates through various subsidiaries including property-holding units such as Supratechnic Properties Sdn Bhd. The group’s activities include owning and managing industrial real estate assets in Malaysia, reflecting a focus on monetising non-core properties amid its restructuring process.
Technical Sentiment Signal: Sell
Current Market Cap: S$3.79M
See more insights into BRS stock on TipRanks’ Stock Analysis page.