ICP

ICP (former Goldtron): Announced a two-week option to sell its factory building and leasehold land located at Loyang Drive for a consideration of $11.8m. The group will wind down its electroplating business, which has been deteriorating in the past three years and carried out at the property, after the completion of the sale. The 6,931.2 sqm 30-year leasehold land is owned by JTC, which was granted to ICP in '94 at $4.2m, designated for industrial use. Based on the $9.5m book value of the property in ICP's FYJun13 financials, the group will realize a $2.3m gain on sale if the transaction goes through.