GS Holdings to divest Hawkerway unit for $65k net proceeds

GS Holdings expects the disposal to result in a net gain of approximately $1.75m.

GS Holdings has announced plans to divest its wholly owned subsidiary Hawkerway Pte. Ltd., marking a strategic exit from the food court and food-and-beverage brand management business.

The company said it has entered into a conditional share sale and purchase agreement to sell 100% of Hawkerway to Wei Global Pte. Ltd. for a net cash consideration of $65,000

Under the terms of the agreement, the gross consideration for the disposal is $2.6m, with 10% payable upon signing and the balance due at completion. GS Holdings will use up to $1.95m of the proceeds to settle Hawkerway’s and its subsidiaries’ liabilities, resulting in the net consideration to the group.

An independent valuation placed the market value of Hawkerway’s equity at between $373,799 and $488,744 as at 30 September 2025.

Hawkerway, which operates food courts and manages food and beverage brands and franchises, generated revenue of $5.3m for the nine months ended September 2025 and recorded a net profit before tax of $22,000, following losses in the preceding financial years.

Upon completion of the transaction, Hawkerway will cease to be a subsidiary of GS Holdings.

The disposal is intended to allow GS Holdings to divest a loss-making and negative net asset business and refocus its resources on its core food and beverage distribution operations.

Based on pro forma figures, GS Holdings expects the disposal to result in a net gain of approximately $1.75m. Group net tangible assets per share would increase from $0.00063 to $0.00084, whilst loss per share would narrow from $0.00066 to $0.00019, assuming the transaction had been completed earlier.

The company said the net proceeds will be used for working capital purposes.