Boustead Singapore has, on Dec 30, entered into a sale and purchase agreement with Chip Eng Seng Construction for the sale of its entire stake in its wholly-owned subsidiary, Boustead Salcon Water Solutions.

Chip Eng Seng Construction, which is the wholly-owned subsidiary of Chip Eng Seng Corporation, bought 110,216,644 ordinary shares from Boustead Singapore for a consideration of $7.28 million.

The consideration sum is to be done via telegraphic transfer for value or by cashier’s order on the date of completion of the disposal.

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