LHN (01730) sold its equity in the asset at 115 Geylang Road for 25.8 million Singapore dollars.

LHN (01730) announced that the company, through its indirect wholly-owned subsidiary Coliwoo Holdings Pte. Ltd., has entered into an agreement on May 21, 2025 to divest its entire shareholding in a subsidiary company which owns a property located at 115 Geylang Road, Singapore 389218. The shares will be sold to real estate development company CWL Properties Pte. Ltd. for a consideration of SGD 25.8 million. After deducting outstanding bank loans and related costs, the estimated net proceeds from the sale are expected to be approximately SGD 10.7 million. The transaction involves CWL Properties Pte. Ltd. acquiring 100% of the shares in Emerald Properties Pte. Ltd. (an indirect wholly-owned subsidiary of the group and the registered owner of the 115 Geylang Road property). The group acquired the 115 Geylang Road property in 2021 and has since operated it as a hotel. The board of directors believes that the sale is beneficial as the expected net proceeds will enhance the group's cash flow position, providing additional operating funds for the business.