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Polaris Completes Disposal of Property

-- Polaris (SGX:5BI) completed the disposal of an investment property named One Singapore, to Nan Kai Textiles, according to a Tuesday filing with the Singapore Exchange.

Earlier the distributor and seller of mobile and other electronics granted Nan Kai an option to purchase the office unit for a consideration of SG$950,000.

Net proceeds from the sale will be used to repay the mortgage loan on the property, with the remaining amount reserved for general working capital needs.

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Polaris Completes Disposal of Property | FINWIRES