Mencast Nears Disposal of Singapore Leasehold Property

MT Newswires

Yesterday

Mencast (SGX:5NF) is set to complete the disposal of its leasehold property in Singapore for SG$21 million after the purchaser, Grandwoods Trading (Singapore), exercised the option to purchase by making a payment of SG$915,600.

The amount will remain with the solicitors of the company's subsidiary, Mencast Marine, as balance deposit pending the proposed disposal, according to a Tuesday filing with the Singapore Exchange.

The property comprises a single-user general industrial factory with a 4-storey ancillary office building, with a land area of around 16,200 square meters.

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