Photo by fauxels on Pexels

Samko Timber subsidiary sells factory for $8.9m

The purchase conditions will be done in two instalments. 

PTSGS, a wholly-owned subsidiary of Samko Timber Limited, has entered into a conditional sale and purchase agreement for the disposal of Balaraja Factory for $8.9m (RP105b), according to a bourse filing. 

The purchase conditions will be done in two instalments, with the first payment of $4m (RP47b) having been received by the group. The second payment of $4.9m (RP58b) will be made no later than 31 December 2024. 

The purchaser is an Indonesian businessman and is an independent and unrelated third party.

The Balaraja Factory comprises of a one-storey detached plywood and other wood-products factory building of 41,206 sq m and a two-storey dormitory of 343 sq m.

The factory building sits on a land area of 86,511 sq m and the dormitory sits on a land area of 253 sq m.

The dormitory will be sold separately and further announcements will be made accordingly. 

Moreover, the ownership of the factory is covered by 10 certificates of the rights to build (Hak Guna Bangunan) with 30 to 38 years validity expiring between 2031 and 2038, covering a total land area of 86,764 sq m. 
 

(RP1 = $0.000084)

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!