UOL Group Limited has announced the divestment of its commercial strata lots in Kinex, a retail mall located at 11 Tanjong Katong Road, Singapore.
The sale, valued at $275m (S$375m), involves UOL’s subsidiaries, UOL Property Investments and UOL Management Services, entering agreements with Kinex Times Square and Xiaohong Property Management. Completion is set for 31 October 2025.
UOL’s decision to divest is part of its strategy to unlock the value of its investment in Kinex and reconstitute its property portfolio. The sale is expected to provide the group with financial flexibility to repay debts and fund future investments. The property was valued at $271m (S$370m) by Edmund Tie & Company as of 30 June 2025.
The financial impact of the divestment on UOL is minimal, with a slight increase in net tangible assets and earnings per share. The transaction is classified as a “disclosable transaction” under Singapore Exchange rules, as it exceeds 5% of the company’s market capitalisation.
