Tat Hong gains A$6.7m from Aussie property sale

Singapore

AFTER a previous attempt to sell some industrial properties failed at the due diligence stage, crane rental company Tat Hong Holdings has managed to dispose of four Australia properties to property developer and investor Primewest Funds for A$23.3 million (S$24.7 million).

Tat Hong will report a gain of A$6.7 million from the sale-and-leaseback transaction, the company said on Monday evening. The gain will be reported in Tat Hong's fourth-quarter results for the year endi…