ICP to sell Loyang property for $11.8m

ICP Ltd announced yesterday that it would be selling its factory building and leasehold land at 5 Loyang Drive to Chang Hua Construction Pte Ltd for $11.8 million.

This was driven by continued losses at the group's electroplating business, which is carried out in the property.

ICP said it would cease its electroplating business which has been deteriorating for the last three financial years.