OTS Holdings Finalizes Sale of 50% Stake in Delta Bridge Joint Venture
Summary:
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Transaction Completion: OTS Holdings Limited has completed the sale of its entire 50% equity interest in Delta Bridge Pte Ltd to Valencier International Limited for S$500,000.
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Strategic Realignment: The divestment aligns with OTS Holdings' strategy to streamline operations and focus on its core competencies in food manufacturing.
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Financial Impact: The disposal is expected to result in a gain of approximately S$250,000, enhancing the company's financial position.
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Operational Focus: Post-divestment, OTS Holdings will no longer have any equity interest in Delta Bridge Pte Ltd, allowing the company to reallocate resources to its primary business segments.
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Shareholder Value: The proceeds from the sale are intended to be utilized for working capital purposes and to support the company's ongoing growth strategies.