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Miyoshi to sell factory property for $7.8 mil

Stanislaus Jude Chan Published on Wed, Oct 11, 2017 / 5:32 PM GMT+8

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SINGAPORE (Oct 11): Precision engineering firm Miyoshi has entered into a sale and purchase agreement to dispose of its factory property at 5 Second Chin Bee Road for $7.8 million.

The single-storey detached factory, which sits on leasehold land spanning 4,883.8 sq m, is currently used for cold storage and as a corporate office.

The group says it plans to sell the property as it is underutilised. “The proposed disposal will see the optimal release of value from the asset as a strategic imperative,” Miyoshi adds in a filing to SGX on Wednesday.

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Miyoshi to sell factory property for $7.8 mil