MYP Ltd

[r0n]

MYP
https://links.sgx.com/FileOpen/MYP_Circu...eID=645068
EGM 28 Jan 2021@11am
The consideration for the Proposed Disposal is S$200.0 million (the “Consideration”). The Consideration shall be paid entirely in cash and shall be satisfied in the following manner: 
(a) a deposit of S$1.0 million (the “Deposit”) shall be paid by the Purchaser to the Vendor within two weeks from the date of the SPA; and 
(b) the balance of the Consideration of S$199.0 million shall be paid upon completion of the Proposed Disposal under the SPA (“Completion”). 

The Property was put up for sale through a marketing process conducted by an independent property consultant, Jones Lang LaSalle (JLL), and the Consideration was arrived at on a willing buyer, willing seller basis, taking into consideration inter alia the market value of the Property, the prevailing economic conditions affecting the property market, and the offers which the Company had received. The Consideration amounts to approximately S$34.2 million more than the Cost of Acquisition of S$165.8 million.

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Book value is $260m

Stay home and stay healthy, everyone.

Fair value is 260m as at valuation done on balance sheet date of 31 December 2019.