F J Benjamin sells four properties in Hong Kong for $14.5m
It’s divesting non-core assets.
Mainboard-listed F J Benjamin will sell four property units in Hong Kong for $14.5m (HK$86.3m).
This move is in line with the Group’s intention to divest non-core assets and use the proceeds to reduce bank borrowings and as working capital for its businesses.
The Disposal will result in an estimated net gain on disposal of S$6.1 million after deducting expenses, for the current financial year ending 30 June 2015.