Chew’s Group to sell units to Huat Lai for USD8.4m

March 14, 2018

Singapore’s Chew’s Group announced last week that it has reached and signed an agreement to sell all the issued and paid-up shares of four subsidiaries, to Malaysia’s Huat Lai Resources Bhd for USD8.4 million in cash. These are Chew’s Agriculture, Chew’s Engineering Services, Chew’s Group Investment and Chew’s Group Marketing. Chew’s, an egg producer, said the proposed disposal, first announced on February 9, will result in an estimated loss of around USD 1.06 million, taking into account expenses of around USD 2.4 million related to the transaction.