Isetan to sell Tai Wah building for $10m

Proceeds will be used to boost retail operations.

Mainboard-listed Isetan will sell Tai Wah building at Killiney Road for a total consideration of $10 million.

Isetan currently only holds the property for rental income. The buyer is Soon Li Heng Civil Engineering.

The property has been valued at $10.7 million. Isetan noted in a statement on the SGX that the deal will be paid in cash, and that proceeds will be channelled toward's the group's core retail business operations.

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