NH Ceramics

NH Ceramics: Signed MOA with Kim Soon Lee Pte Ltd. for the proposed sale of its Tuas properties (1 Tuas & 3 Tuas Ave and the E-Centre property. Group may effect the sale either through i) an asset sale of the properties; or ii) transfer of shares in NH Enterprises Pte Ltd (wholly-owned subsidiary which hold the properties) for $17m The sales will unlock the values of the properties and further strengthen the group’s financial position, whereby mgmt has intended that the sale proceeds will be used for the repayment of bank loans, strategic investments, distribution to shareholders and general working capital. The sale of its properties at $17m, compared to $16.7m disclosed in its 1H13 results reported on 14 May should provide a slight push to its share price. NH Ceramics will lift its trading halt at 9am today.