Gallant Venture

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Gallant Venture and Obayashi Corporation to build greenhouse optimised for tropical climates on Bintan island
* New Gallant Obayashi Green Agritech Park widens appeal of Bintan island as an eco-tourism destination

Gallant Venture has partnered Obayashi Corporation – one of Japan’s largest general contractors – to pilot a technologically-advanced eco-tourism focused greenhouse on Bintan island, Indonesia. This was announced at the Joint Development Agreement Signing Ceremony held earlier today between the partners. PT Persada Hijau Cemerlang (PHC), a company owned by Gallant Venture and Salim Group, will work with Obayashi Corporation to fine-tune the latter’s pioneering technology to build the Gallant Obayashi Green Agritech Park – a greenhouse optimised for the tropical climate using advanced environmental controls.

The Gallant Obayashi Green Agritech Park aims to cultivate premium crops with improved sustainability and higher yields. Crops from this urban agri-technology showcase will be commercialised for export to Singapore and beyond. A Visitor and Education Centre for tourists and students is also in the works to promote agri-technology.

More details in https://links.sgx.com/FileOpen/Press_Rel...eID=593245

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Gallant Venture @ 13

the Company wishes to announce that the SGX-ST has on 29 June 2021 granted its approval in-principle ("AIP") for the listing and quotation of the Consideration Shares to be issued at the issue price of S$0.129 per Consideration Share, to the SBRH.

The Board of Directors of the Company also wishes to announce that based on the unaudited financial statements of SBRH as at 31 December 2020, SBRH recorded a negative net book value and net tangible liabilities of S$13.0 million and S$13.0 million, respectively. Further, the valuation of SBRH as a whole at approximately S$7.46 million was computed on a pro forma basis taking into consideration SBRH's estimated net tangible liabilities of S$239,000 (after capitalising the S$20 million shareholders' loans and related accrued interest and assuming that any default interest accrued has been waived) and including SBRH's share of the estimated net tangible asset value of PT BRC of approximately S$7.70 million.
https://links.sgx.com/FileOpen/GV_Acquis...eID=672951

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