HLH to sell D'Kranji Farm Resort after receiving offer

HLH Group has agreed to dispose of the D'Kranji Farm Resort.

In a regulatory filing on Tuesday, HLH said its subsidiary had on Monday received an offer of S$12 million and a one per cent cheque from a high net worth individual, Mohamad Eskanda Bin Mohamed Sookor, to purchase the D'Kranji Farm Resort at 10 Neo Tiew Lane 2.

The terms and conditions of the sale and purchase agreement will be negotiated and agreed between both parties in the next 14 days. HLH said it will make necessary announcement to update the shareholders once the agreement has been entered into.

"The transaction marks an opportunity for the company to realise its investments and the proceeds will be used for working capital of the group," it added.