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Update: Bonvests divests properties

MAINBOARD-LISTED Bonvests Holdings on Friday announced that its subsidiary, Essential Investments, has entered into an agreement to sell two retail shop units for a total consideration of approximately S$13.7 million.

The two units located at 220 Orchard Road, Midpoint Orchard, #B1-10 and #B1-11 will be sold to Chu Chee Keong.

Bonvests Holdings also announced earlier on Friday that its subsidiary, Bon-Food, has entered an agreement to sell a leasehold unit at Tampines for S$14.55 million.

Proceeds from the sale of all the properties will be used by Bonvests to fund its on-going projects.