Pollux Properties to Divest Singapore Asset for SG$4.2 Million

MT Newswires10-01

Pollux Properties (SGX:5AE) plans to sell a property at 57B Devonshire Road, Singapore, for SG$4.2 million via its wholly-owned subsidiary, Cherimoya Worldwide.

The property, with a gross floor area of 156 square meters, has a book value of SG$4.14 million, resulting in a projected gain of SG$60,000 from the sale.

The purchaser is an unrelated third party, according to a Monday filing on the Singapore Exchange.

An option to purchase was granted on Sept. 30, and an SG$42,000 deposit was received. The option expires on Oct. 14, and the balance is due on Feb. 3, 2025.

Proceeds from the sale will be used for debt repayment and working capital.

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