Staff Reporter
,
Singapore
An offer worth $447,077 has been made.
The Board of Directors of Advance SCT Limited and its subsidiaries announced that the company’s subsidiary New Tsingyi Pte Ltd has received an offer from a trio of individuals to acquire 100% of Soon Sing Metal Trading from the Group for the book value of SSMT's net tangible assets.
SSMT, which has not been performing well and reported losses for 2011, will cease to be a subsidiary of the Group upon completion.
The announcement said SSMT’s poor performance has continued in 2012 and contributed to the Group’s losses in the first half of 2012.
Join Singapore Business Review community
Since you're here...
...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.
We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.
Let us help you drive your business forward with a good partnership!