Sembcorp sells commercial construction business to Chip Eng Seng for $49.9m

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SINGAPORE - Sembcorp Industries has signed an agreement to sell the commercial construction business under its subsidiary to Chip Eng Seng Corp's unit for about $49.9 million, both mainboard-listed firms said in separate bourse filings on Wednesday (Oct 2).. Read more at straitstimes.com.

SINGAPORE - Sembcorp Industries has signed an agreement to sell the commercial construction business under its subsidiary to Chip Eng Seng Corp's unit for about $49.9 million, both mainboard-listed firms said in separate bourse filings on Wednesday .

The divestment is part of Sembcorp's strategy to unlock value and recycle capital as it repositions to be a global integrated energy player, it said.

 

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