Q & M Dental sells medical aesthetic and laser unit for S$242,000
DENTAL clinic operator Q & M Dental Group (Singapore) Ltd on Monday said that its subsidiary Q & M Medical Group Singapore (QMGS) has entered into an agreement with Dr Felix Li Jingxiang on Nov 28, 2017, to dispose all of its shares in Q & M Medical Aesthetic & Laser Centre (QMAL) for a total consideration of S$242,000.
A sum of S$50,000 has been paid on Dec 1, 2017, with the completion of the share disposal, while the remaining amount will be payable via monthly instalments of S$12,000 over a period of 16 months from the date of completion of the share disposal.
In arriving at this consideration, the company has taken into account current market conditions, as well as the history, track record and performance of QMAL, the group said.
Based on the unaudited accounts of QMGS as at Sept 30, 2017, the net liability of the sale shares was approximately S$1,426,308, the group added.
The share disposal is not expected to have a material impact on the company, QMGS said.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
DBS customers unable to log into digibank, PayLah! on Thursday
NYSE-parent ICE’s revenue misses as muted IPO markets offset record energy trading
Amazon bets big with CrowdStrike on cybersecurity products
Goldman Sachs scraps EU-era bonus cap for top bankers in UK: source
Thomson Reuters lifts 2024 forecast on first quarter revenue result
US: Wall St opens higher after Fed leaves interest rates alone