New Trend Lifestyle Group sells property for 1.8m pounds
AIM-listed New Trend Lifestyle Group (NTLG) , the Singapore-based Feng Shui products and services group, has disposed of a property at 145/145A Sims Avenue in Singapore to Nanyang Hardware Pte Limited (Nanyang).
AIM-listed New Trend Lifestyle Group (NTLG) , the Singapore-based Feng Shui products and services group, has disposed of a property at 145/145A Sims Avenue in Singapore to Nanyang Hardware Pte Limited (Nanyang).
The sale was for a consideration of S$3.35m (£1.78m).
NTLG said the property had an asset value of S$3.19m (£1.69m) and the disposal generated a profit of S$162,667 (£86,437) for it.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
It will apply the cash proceeds to settle the loan raised on the property of S$2.22m (£1.18m) and pay transaction costs estimated at S$476,958 (£253,466). NTLG also said that the balance of the proceeds would be utilised for working capital.
Following the disposal, the company said it would transfer the Sims Avenue business to new premises in Chinatown Point Mall.
NTLG's share price was unchanged at 7.25p on Tuesday.
MF
-
Who is the richest person in the world?
The top five richest people in the world have a combined net worth of $825 billion. Who takes the crown for the richest person in the world?
By Vaishali Varu Published
-
Top 10 stocks with highest growth over past decade - from Nvidia, Microsoft to Netflix, which companies made you the most money?
We reveal the 10 global companies with the biggest returns since 2013. One firm has posted an astonishing 9,870% return, meaning a £1,000 investment would now be worth almost £82,000.
By Ruth Emery Published