Ohmyhome Ltd sells real estate business for token US$1 due to poor business and continued losses
Singapore-based Ohmyhome Ltd has sold its real estate brokerage subsidiary to Sterling Oat for US$1 due to persistent financial losses. The company will now pivot its business model to focus exclusively on digital marketing services.
Why it matters
This divestment marks a significant strategic shift for a Nasdaq-listed company struggling with the profitability of its core property services.
It will now focus entirely on digital marketing; the subsidiary’s sale is to a corporate vehicle called Sterling Oat
The report is a straightforward business news summary based on SEC filings and corporate disclosures.
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