NOL Group is selling its Alexandra headquarters premises to raise funds.
The shipping and logistics leader has been reporting losses for the past five financial quarters.
According to a media statement released on Monday, NOL said the sale will help the company “release capital for strategic investment”.
NOL Building is located at 456 Alexandra Road.
It sits on a 108,060-square-foot site, with a gross area of close to 300,000 square feet.
NOL currently occupies 90 per cent of the 26-storey building, which it plans to lease.
The sale of this freehold commercial space building will close by mid-August.
Source : Channel NewsAsia – 2 Jul 2012