Teo Seng sells Singapore factory for RM29.41mil

PETALING JAYA: Teo Seng Capital Bhd, via its unit BH Fresh Food Pte Ltd, is disposing of a leasehold, two-storey JTC detached factory in Singapore for RM29.41mil.

In a filing with Bursa Malaysia, Teo Seng said the export of eggs by Teo Seng to the Singapore market via its subsidiaries has been affected due to regulatory limitation.

It added that the majority of eggs exported to Singapore are directly delivered to wholesalers in Singapore by Teo Seng’s Malaysia subsidiary, which rendered the under-utilisation of the property.