In a Sept 25 filing on the Singapore Exchange (SGX:S68
) (SGX), Noel Gifts said that it intends to continue engaging in the properties segment business even upon the sale of the units. It will use the proceeds from the sale of the units for “future opportunistic acquisitions and investments” as well as to fund its general working capital requirements.
Noel Gifts International (SGX:543) has entered into a collective sale agreement in relation to a proposed collective sale of Noel Building at 50 Playfair Road.
The group owns 10 units in the building under its property investment business segment. The units are located on the third, fifth, sixth and seventh storeys.
