Samko Timber (SGX:E6R) subsidiary PTSGS entered into a sale and purchase agreement for the disposal of the Balaraja Factory for SG$8.9 million.
The consideration would be paid in two installments. The first payment has already been received, and the second installment will be paid by Dec. 31, according to a Monday filing with the Singapore Exchange.
Shares of the woodworks company surged 50% in recent trade.
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