GS Holdings explains S$2 sale of subsidiaries' assets

Singapore

GS Holdings has responded to queries from the Singapore Exchange (SGX) about the sale of its subsidiaries for S$2, saying that the subsidiaries' assets comprised human resource and accounting software which would be difficult to sell to different parties separately.

GS Holdings has proposed selling two cleaning and dishwashing subsidiaries - GS Cleaning Services (GCS) and GS Equipment Supply (GES) - for S$2 to a former subsidiary, GreatSolutions.