DivestmentJun 18, 2026, 05:02 PM
Ohmyhome Divests Real Estate Business for $1, Focuses on Digital Marketing
AI Summary
Ohmyhome Ltd has divested its entire real estate brokerage and property-related services business by selling its wholly-owned subsidiary, Ohmyhome BVI, for $1. This strategic move follows the company's decision to exit the underperforming real estate segment, which had declining revenues and ongoing operating losses, and focus on its digital marketing services business. Prior to the sale, Ohmyhome Ltd waived approximately $14.73 million in debt owed by Ohmyhome BVI to strengthen its financial position for the divestiture.
Key Highlights
- Ohmyhome divested its wholly-owned subsidiary, Ohmyhome BVI, for a purchase price of $1.
- Ohmyhome BVI, the real estate brokerage business, had a negative net asset position of $14.77 million as of March 31, 2026.
- Ohmyhome Ltd waived SGD 19,019,173.33 (approximately $14.73 million) in debt owed by Ohmyhome BVI.
- The waived debt included SGD 16,225,131.03 of assigned debt and SGD 2,794,042.30 in direct loans.
- The company will now focus on expanding its digital marketing services business.
- The divestiture closed on May 31, 2026.
Price Impact
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