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GSH terminates sale of office units at PLUS Singapore

The company has also forfeited the 10% deposit of $3.8m the buyer has paid.

The sale of GSH Corporation’s strata units of office at PLUS Singapore located on Cecil Street, Raffles Place for a consideration of $38.8m has fallen through.

In a bourse filing, GSH said the buyer would be “unable to complete the purchase of the property.”

Following the termination of the sale and purchase agreement for the property, GSH will also be forfeiting the 10% deposit of $3.88m that the purchaser has already paid.

“The termination of the Proposed Disposal is not expected to have a material effect on the consolidated net tangible assets per share of the Company and Group for the current financial year,” GSH said.

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