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GK Goh to sell financial services arm

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INVESTMENT holding firm GK Goh Holdings said it will sell its financial services arm, GK Goh Financial Services, to a third party belonging to an international financial institution with an established presence in Asia.

INVESTMENT holding firm GK Goh Holdings said it will sell its financial services arm, GK Goh Financial Services, to a third party belonging to an international financial institution with an established presence in Asia.

The sale price is the net tangible assets of the company of S$12.5 million at Sept 30, 2016, subject to adjustments.

GK Goh said its financial services unit, which provides services on exchange-traded futures and options, over-the-counter leveraged foreign exchange among other things, has been loss-making since 2013.

The counter last traded at S$0.84, up two cents, before the announcement.

sentifi.com

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