Swee Hong to dispose of Choa Chu Kang property for $3.1 mil

SINGAPORE (Dec 27): Civil engineering group Swee Hong on Tuesday announced it has entered into a sale and purchase agreement to dispose of its property to Hong Ee Corporation for $3.1 million.

Located at 190A and 190C Choa Chu Kang Avenue 1, the freehold property comprises two strata titled units above and below each other, forming an intermediate unit.

In an SGX filing, Swee Hong says the disposal of the property will allow the company to raise sufficient funds to repay its creditors and bring the Creditors Scheme of Arrangement to a close.

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