Isetan to sell Tai Wah building for $10m
Proceeds will be used to boost retail operations.
Mainboard-listed Isetan will sell Tai Wah building at Killiney Road for a total consideration of $10 million.
Isetan currently only holds the property for rental income. The buyer is Soon Li Heng Civil Engineering.
The property has been valued at $10.7 million. Isetan noted in a statement on the SGX that the deal will be paid in cash, and that proceeds will be channelled toward's the group's core retail business operations.