Back
16 Jun 2025
CosmoSteel Receives Final JTC Approval for Lok Yang Property Sale, Completion Expected by August
Summary:
-
CosmoSteel Holdings has received final approval from JTC on 11 June 2025 for the proposed disposal of its property at 90 Second Lok Yang Road.
-
With this, all conditions precedent have been fulfilled, clearing the way for the sale to Tenda Equipment & Services Pte Ltd.
-
The transaction was initiated through an option to purchase granted on 3 September 2024 by CosmoSteel’s wholly-owned subsidiary, Kim Seng Huat Hardware Pte Ltd.
-
The sale had earlier received shareholder approval at the EGM held on 24 January 2025.
-
Completion is expected by end-August 2025, pending final procedural steps.
-
Shareholders and investors are advised to exercise caution and await further announcements as the deal progresses.