Stock News: LKN-Primefield Ltd selling stake in Hotel Equartorial for 16.5 mln sgd!

LKN-Primefield Ltd said it will sell its 27 pct stake in Hotel Equatorial for 16.5 mln sgd to streamline its business and divest its non-performing assets. In a disclosure to the exchange, the net sales proceeds from the proposed disposal after deducting all expenses and foreign tax is estimated to be approximately 16.18 mln sgd. LKN-Primefield said the net loss attributable to the proposed disposal upon its completion is estimated to be 1.91 mln sgd, after deducting all expenses.