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Lian Beng to sell Joo Chiat property for S$42m

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Claudia Chong

Claudia Chong

Published Thu, Sep 8, 2022 · 11:29 PM
    • Lian Beng said the disposal of the Joo Chiat property is expected to have a postitive impact on the net earnings per share of the group for the current financial year ending May 31, 2023.
    • Lian Beng said the disposal of the Joo Chiat property is expected to have a postitive impact on the net earnings per share of the group for the current financial year ending May 31, 2023. PHOTO: CBRE-SAVILLS

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    LIAN Beng on Thursday (Sep 8) said its wholly owned subsidiary Lian Beng (Joo Chiat) has granted an option to sell a commercial property at 381 Joo Chiat Road to an unrelated third party.

    The option is exercisable by the purchaser within 14 days from the date of the option. The aggregate sale consideration is S$42 million.

    Lian Beng said the disposal is expected to have a postitive impact on the net earnings per share and net tangible assets per share of the group for the current financial year ending May 31, 2023.

    The counter closed flat at S$0.53 on Thursday.

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