Corporate digest
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Technics Oil and Gas
TECHNICS Oil and Gas, currently under judicial management, is selling its 51 per cent stake in structural steel works company Technics Steel Pte Ltd to TTJ Holdings. The consideration comprises S$350,000 for the sale shares, and S$600,000 to settle inter-company loans and advances. It takes into account an undertaking by TTJ to release and discharge Technics Oil and Gas from all corporate guarantees and security arrangements for Technics Steel.
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