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.

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

Recommended

Three top-notch Asian stocks to buy
Share tips

Three top-notch Asian stocks to buy

Professional investors Adrian Lim and Pruksa Iamthongthong, managers of the Asia Dragon Trust, pick three of their favourite Asian stocks to buy now.
23 Sep 2022
Why you should short this satellite broadband company
Trading

Why you should short this satellite broadband company

With an ill-considered business plan, satellite broadband company AST SpaceMobile is doomed to failure, says Matthew Partridge. Here's how to short th…
23 Sep 2022
Share tips of the week – 23 September
Share tips

Share tips of the week – 23 September

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
23 Sep 2022
Momentum investing – and why price matters more than anything else
Investment strategy

Momentum investing – and why price matters more than anything else

The recent fashion for momentum investing, with investors piling into expensive growth stocks, is nothing new, says Merryn Somerset Webb. And the dang…
21 Sep 2022

Most Popular

Beating inflation takes more luck than skill – but are we about to get lucky?
Inflation

Beating inflation takes more luck than skill – but are we about to get lucky?

The US Federal Reserve managed to beat inflation in the 1980s. But much of that was down to pure luck. Thankfully, says Merryn Somerset Webb, the Bank…
26 Sep 2022
Earn 4.1% from the best savings accounts
Savings

Earn 4.1% from the best savings accounts

With inflation topping 10%, your savings won't keep pace with the rising cost of living. But you can at least slow the rate at which your money is los…
27 Sep 2022
The pick of this year's best-performing investment trusts
Investment trusts

The pick of this year's best-performing investment trusts

Market conditions haven’t been easy, but these investment trusts have delivered strong growth, says David Stevenson.
23 Sep 2022