SingTel Says In "Final Stages" In Sale Of 2 Properties
Wednesday February 8, 12:07 PM
SINGAPORE (Dow Jones)--Singapore Telecommunications Ltd. (T48.SG) Wednesday said it is close to selling two of its properties in Singapore.
The properties are a cable store on the west coast and a training center at Hillcrest.
"We are at the final stages of concluding the sale of the two properties," Chief Financial Officer Chua Sock Koong said at a quarterly earnings briefing.
Last year, SingTel received provisional approval from the Urban Redevelopment Authority to develop the two plots of land into residential projects.
Market watchers say SingTel would likely sell the properties to developers for about S$105 million to S$120 million.
Also see CitiBank Report
SINGAPORE (Dow Jones)--Singapore Telecommunications Ltd. (T48.SG) Wednesday said it is close to selling two of its properties in Singapore.
The properties are a cable store on the west coast and a training center at Hillcrest.
"We are at the final stages of concluding the sale of the two properties," Chief Financial Officer Chua Sock Koong said at a quarterly earnings briefing.
Last year, SingTel received provisional approval from the Urban Redevelopment Authority to develop the two plots of land into residential projects.
Market watchers say SingTel would likely sell the properties to developers for about S$105 million to S$120 million.
Also see CitiBank Report
posted by SmartYInvestor at 7:19 AM
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