Regal International Completes Property Disposal of HJ Lai and Other Assets

MT Newswires05-24

Regal International (SGX:UV1) said that it had completed the disposal of HJ LAI Concrete Cement and other assets on Dec. 1, 2021, according to a filing with the Singapore Exchange on Thursday.

The company had entered into an agreement for sale of shares with Lai Nyit Khiong (LNK) on Aug. 25, 2021 for the disposal of 51% of its stake in HJ Lai for around 392,000 ringgit and also entered into sale and purchase agreements with LNK for the disposal of vehicles and machineries for 292,000.

The company had decided to dispose off its business and related assets as part of a planned internal restructuring and consolidation of its resources, according to a previous filing.

Price (SGD): S$0.12, Change: S$, Percent Change: %

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