CNA sells core business to CEO for S$300,000
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Singapore
THE judicial managers of CNA Group said the company has sold the building-controls systems provider's Singapore business to CNA president and chief executive Michael Ong for S$300,000 plus the replacement of existing performance bonds and guarantees.
The judicial managers, who are from Deloitte & Touche, said that the company's major creditors were consulted on the sale.
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