Letter of Intent (LOI)

Hyflux gets non-binding letter of intent from China suitor

SINGAPORE (June 15): Hyflux has received another non-binding letter of intent (LOI) for a potential investment in the group by an investor based in China.

In a Friday night filing, Hyflux says the investor is a subsidiary of a state-owned enterprise in the industrial field which works on a global scale to provide comprehensive power services.

“Other fields of expertise of the investor’s holding company include wind and solar energy solutions, nuclear industry, medical technology and agriculture,” says Hyflux.

Acromec inks LOI to establish private fertility centre with former customer's assets

SINGAPORE (June 6): Acromec has entered into a letter of intent (LOI) to collaborate on owning and operating a private fertility centre backed by a “leading US fertility centre” as a strategic investor and advisor.  

The project’s core management team will be led by two fertility medicine specialists who the company did not name.  

Assets required to operate the centre, such as its premises and equipment, will be acquired from a former customer of Acromec which has been placed under judicial management.

Potential investor interested in Hyflux's overseas assets

SINGAPORE (May 16): Hyflux on Wednesday announced it had received a non-binding letter of interest from a potential investor to acquire certain of the company’s assets in Algeria and Oman, as well as other assets in the Middle East and North Africa region.

The investor also showed interest in the operation and maintenance activities relating to these assets. The investor intends for this acquisition to grow its portfolio of desalination plants.

Hyflux names UAE firm as next potential suitor with $400 mil injection deal

SINGAPORE (May 6): Hyflux has identified Utico FZE as its next potential white knight investor which might make a capital injection of $400 million, weeks ahead of its extended debt moratorium until May 24.

Hyflux had previously mentioned it was in discussions with an unidentified suitor and had already received a non-binding letter of intent (LoI) from the other party.

Oxley's potential $950 mil deal falls through after Gracious Land defaults on $38 mil deposit

SINGAPORE (Mar 20): Oxley Gem, a subsidiary of Oxley Holdings, has terminated the letter of intent (LOI) it received from Gracious Land in Jan for the $950 million purchase of its Mercure and Novotel hotels, after not receiving a subsequent deposit of $38 million when it was due.

In a late night filing on Tuesday, the group says Gracious Land has requested for a refund of the initial $9.5 million deposit it paid for the two hotels on Stevens Road to Oxley Gem.

Procurri falls 9.7% to 28 cents as New State also withdraws acquisition offer

SINGAPORE (Feb 19): Shares of Procurri Corporation fell on Tuesday morning after it announced that potential investor New State Capital Partners had withdrawn its acquisition offer.

Second potential offeror rescinds expression of interest to acquire Procurri less than 24 hours later

SINGAPORE (Feb 8): Procurri Corporation says the second potential offeror to express interest in acquiring the company after New State Capital Partners LLC has now decided to terminate further discussions on the matter.

The update comes less than 24 hours after Procurri had received its second, unsolicited non-binding expression of interest (EoI) from an unnamed third party to acquire the company through a possible voluntary general offer.

Oxley to get much-needed hongbao if hotel sale deal is on

SINGAPORE (Jan 14): Property group Oxley could potentially reduce net debt-to-equity to 1.8 times from 2.5 times as at Sept 2018 if sale of its Mercure and Novotel hotels on Stevens Road is completed.

That's because that the cash proceeds will be able to alleviate some of the group’s urgent cash requirements, says DBS Group Research, especially in repaying its retail bonds – $300 million expiring on Nov 5 and $150 million expiring on May 18, 2020.

Oxley accepts LOI from buyer of Mercure and Novotel hotels on Stevens Road

SINGAPORE (Jan 10): Oxley announced that its wholly-owned subsidiary, Oxley Gem, has accepted a letter of intent (LOI) today for the purchase of Mercure and Novotel hotels located at 28 and 30 Stevens Road for a total consideration of $950 million.

The LOI is intended to be non-binding and is subject to the parties entering into a definitive sale and purchase agreement.

OUE Lippo Healthcare and China Merchants Group to develop, operate Shenzhen hospital

SINGAPORE (Dec 12): OUE Lippo Healthcare has entered into a non-binding letter of intent (LOI) with China Merchants Shekou Industrial Zone Holdings, to jointly develop, operate and manage a high-end international hospital in Shenzhen, China.

The hospital located in Shekou is expected have more than 200 beds serving the local community, and tapping into the medical tourism industry in the Guangdong-Hong Kong-Macao Greater Bay Area.

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