TEHO International sells Bukit Batok property for $760,000

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Marina View Residences layout

TEHO International with its 100%-owned subsidiary TEHO Water & Envirotec, has completed the sale of its property located at 1, Bukit Batok Crescent #03-20. The company has received the entire settlement of $760,000, which is $820,800 excluding GST.

Marina View Residences layout of 0.78 ha or 84,000 sq ft site enjoys a maximum GFA of 1.09 million sq. ft. It is expected to house 905 private residential units

Purchase option originally granted February 14 to Wong Siew-Fong. The sale was deemed to be within the best interests of the group’s interests since the worth of the property was realized.

The proposed sale was expected to produce an inflow of cash positive of $345,093 following the deductions to pay the mortgage loan and commission, as well as yield a profit at disposal of around $172,313.

The shares of TEHO ended the day with a flat price of 5.3 cents on the 17th of July.