UMS Holdings Limited is planning to divest its leasehold property at 27 Changi North Crescent for about S$6.98 million, in a move to dispose its non-income generating assets after shifting operations out of Singapore to lower costs in its manufacturing sector.
On 16 April 2004, JTC Corporation granted the 7,610.6-sq-m property a lease term period of 30 years and the potential buyer is said to be YFE-Clark Express Pte Ltd.
The company said it expects to earn up to S$2.5 million from the divestment process.
Meanwhile, UMS Holding has reported that net profit in the fourth quarter jumped 692 percent to S$9.06 million, while revenue rose 99 percent to S$33.8 million.
The strong Q4 results boosted the company’s FY2010 profit to S$28.75 million, compared to a net loss of S$24.33 million in the previous year, including a S$20-million goodwill write-off.