Technics Oil and Gas sells property to raise S$100m
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Singapore
FINANCIALLY troubled Technics Oil and Gas Limited is selling its leasehold property at 72 Loyang Way Singapore for S$100 million in cash as part of a sales-and-leaseback transaction, in a bid to unlock cash from its assets for its existing businesses and working capital.
This comes after its auditor last Friday raised a concern about the group's ability to continue as a going concern.
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