Based on a valuation by Collier International Consultancy and Valuation (Singapore) as at end-December 2019, the property has a market value of $22.0 million.
Singapore (Jan 3): Kim Heng Offshore & Marine Holdings announced Friday that wholly-owned subsidiary Kim Heng Marine & Oilfield has agreed to sell its property at 48 Penjuru Road in western Singapore for $18.5 million.
This will see Kim Heng incur an impairment loss of $6.5 million, as the property has a net book value of $25.0 million as at Sept 30, 2019.
