GK Goh to sell financial services arm
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.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Universal Music Group reaches new licensing agreement with TikTok
Sumitomo to bolster shareholder returns in new mid-term plan
US Fed ‘less hawkish’ than expected; Singapore banks, net cash companies likely to outperform
ST Engineering bags more than S$175 million in contracts to upgrade Singapore’s public bus fleet
ING unveils 2.5 billion euros buyback as profit beats estimates
Prosper Cap halts operations at UK hotel after fire breaks out