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26 Jun 2025
Emerging Towns & Cities Singapore Receives Partial Disposal Payment for DAS Pte. Ltd., Secures Collateral for Remaining Amount
Summary:
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The company has received S$2.5 million out of the S$4 million total disposal consideration for DAS Pte. Ltd., including a deposit, first tranche, and partial second tranche payment.
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The remaining S$500,000 from the second tranche will accrue 10% annual interest until payment.
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A final S$1 million payment is due within 12 months of completion (i.e., by 26 December 2025).
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To secure these outstanding amounts, Golden Land has granted a first fixed charge over property units in Golden City valued at approximately S$3.07 million.
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The shares of the company remain suspended since March 2021. Investors are advised to exercise caution.