CMON to sell Singapore property, expects S$0.9m gain

CMON Limited has announced a major transaction involving the disposal of its property at 201 Henderson Road #07-01 and #08-01 Apex @ Henderson, Singapore, for S$3,080,000. The Option Agreement, dated August 26, 2025, became binding on October 6, 2025, following the purchaser's acceptance. The purchaser, Manlie Collective Pte. Ltd., is an independent third party. Completion is scheduled for December 15, 2025, with an extended deadline of January 5, 2026.

The unaudited carrying value of the property was approximately S$1.9 million as of June 30, 2025, with an expected gain on disposal of S$0.9 million based on the audited carrying value of S$2.1 million as of December 31, 2024. The net proceeds of S$1.45 million will be utilized to increase cash by S$305,596, reduce bank borrowings by S$1,456,124, and decrease annual cash expenses by S$181,800.

The proceeds will be allocated towards the group’s games development business, with S$300,000 for normal operations of sales, S$400,000 for marketing and events, and S$450,000 for game development within 24 months after completion. The remaining S$301,721 will be retained as additional cash reserve. The disposal constitutes a major transaction under listing rules, requiring shareholder approval at an extraordinary general meeting to be held on December 31, 2025.