SINGAPORE (June 9): NRA Capital is keeping Regal International Group at “overweight” with a fair value estimate of 38.2 cents – close to quadruple its last closing price of 10.2 cents – on the back of proposed disposals.

Regal on June 2 announced it entered into an agreement for the proposed sale of its wholly owned precision business division under Hisaka International Holdings for $7 million in cash.

Under the agreement, Regal will also net prospective cash proceeds from the sale of the existing industrial property building owned by its precision business at 63 Sungei Kadut Loop, which is valued at $5.5 million.

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