Corporate digest

Kim Heng Offshore & Marine

KIM Heng has agreed to sell 24 cranes and two luffing jibs to Hup Hin Heavy Equipment for S$12.5 million.

Net proceeds, less professional fees and expenses of S$12.48 million, will go to funding working capital needs, expanding the business and paying down bank loans.

Divestment of these assets will result in a loss on disposal of S$455,000, after taking into account their aggregate net book value of S$12.96 m…