Elite KSB Holdings

[CityFarmer]

Focus ONLY on China properties market?

"The Disposal gives shareholders an opportunity to realise their investment in the Company in cash while continuing to have exposure to the Company's investments in China, the investment property and potential investment opportunities to be identified by the management team."

The 2 are separate.

1. The investments in China are the 4 associate companies carried at $6.8m.
Share of profit for FY11: $2.5m

2. The investment property is 2 Senoko Way. Earlier on, a buyer offered $12m for the property but the deal was rejected by the authorities for the intended use. It is now priced at $9.3m.

Thanks for the highlight.

After went into detail, does it serve as a potential Asset-play?

I checked the disposal announcement with termination clauses. Base on my understanding, the following will terminate the sales

- Receive any gazette notification under the Land Acquisition Act (Chapter 152) of Singapore on properties included in the sales
- Shareholder agreeement on GM

Do i miss out anything?