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Selling something in Myanmar at 30% above NAV to a unrelated company incorporated in May2024. Sounds about too good to be true but it is true that the Purchaser has paid a booking fee. 
Let's see how the O&M termination with the local partner (operating and maintaining the power plant) pans out and all the terms/conditions attached to the agreement, pans out in due time.
PROPOSED DISPOSAL OF THE COMPANY’S ENTIRE SHAREHOLDING INTEREST IN UPP GREENTECH PTE. LTD.
Based on the latest audited consolidated financial statements of the Group for FY2023, the book value and net tangible asset value of the Target Companies is approximately S$10.5 million.
The net proceeds from the Proposed Disposal (assuming that no Monetary Compensation is payable and there is no set off against the Deposit) are expected to amount to approximately S$13.5 million and is intended to be utilised for settlement of the power plant’s potential O&M expenses or claims (if any), repayment of bank borrowings and/or working capital requirements.
https://links.sgx.com/FileOpen/Announcem...eID=807212
Let's see how the O&M termination with the local partner (operating and maintaining the power plant) pans out and all the terms/conditions attached to the agreement, pans out in due time.
PROPOSED DISPOSAL OF THE COMPANY’S ENTIRE SHAREHOLDING INTEREST IN UPP GREENTECH PTE. LTD.
Based on the latest audited consolidated financial statements of the Group for FY2023, the book value and net tangible asset value of the Target Companies is approximately S$10.5 million.
The net proceeds from the Proposed Disposal (assuming that no Monetary Compensation is payable and there is no set off against the Deposit) are expected to amount to approximately S$13.5 million and is intended to be utilised for settlement of the power plant’s potential O&M expenses or claims (if any), repayment of bank borrowings and/or working capital requirements.
https://links.sgx.com/FileOpen/Announcem...eID=807212