IPC Corporation

[cyclone]

Request for Trading Halt : Pending release of announcement.

[specuvestor]

The amazing thing to me is IPC is still alive. I still remember the 90s when Singapore govt agencies uses IPC computers

It's a reminder of how long a grind can get for OPMI who "keep the faith", despite those who might have profited from capital return in 15/16. Hopefully Oei's involvement gives good news to these OPMI

[ghchua]

Hope that they can finally sell their Zhuhai projects. Keeping my fingers crossed.

[cyclone]

Entry Into Non-Binding Heads of Agreement In Relation To The Proposed Disposal of Grand Nest Hotel Zhuhai

IPC Corporation Ltd announced that the Company had, on 17th September 2017, entered into a non-binding heads of agreement with Xinyuan (China) Real Estate Co., Ltd. (the "Purchaser"), a subsidiary of Xinyuan Real Estate Co., Ltd., a company listed on the New York Stock Exchange, in relation to the proposed disposal of its hotel, "Grand nest HOTEL Zhuhai", to the Purchaser for an indicative purchase consideration of approximately RMB200 million.

More details in http://infopub.sgx.com/FileOpen/IPC_HOA_...eID=471009

[cyclone]

Entry Into Non-Binding Heads of Agreement In Relation To The Proposed Acquisition of 51% Equity Interest in Beijing iJourney Technology Development Co. Ltd

IPC Corporation Ltd announced that the Company had, on 17th September 2017, entered into a non-binding heads of agreement with Xinyuan (China) Real Estate Co., Ltd., a subsidiary of Xinyuan Real Estate Co., Ltd., a company listed on the New York Stock Exchange, in relation to the proposed acquisition by the Company of 51% equity interest in Beijing iJourney Technology Development Co. Ltd  (北京爱接力科技发展有限公司)  (the “Target Company”) for an indicative purchase consideration of approximately USD5.1 million (“the "Proposed Acquisition"). It is envisaged that the consideration for the Proposed Acquisition will be satisfied through the issue of new shares in the capital of the Company at the issue price of S$0.40 each. 

Capitalising on artificial intelligence technology, the Target Company is devoted to the research, development and marketing of robots which serve the needs of families. It is the aspiration of the Target Company that its products will benefit the market of smart home and become an internet traffic portal to the next generation of the Internet of things. One of its products, the butler robot, has been launched throughout China and targets, amongst others, the educational needs of children, the healthcare needs of the elderly, and the connectivity of smart appliances.

Through the acquisition of the Target Company, the Group will be making its first foray into the artificial intelligence business. The Company will embark on its “One Belt One Net” initiative in the area of data centres, digital technologies and services. Such “One Belt One Net” initiatives will complement China’s “One Belt One Road” project.

More details in http://infopub.sgx.com/FileOpen/IPC_HOA_...eID=471010

[specuvestor]

bought for $5m investing $5b "supposedly"... Oei monetising his charm

(Bloomberg) -- Singaporean billionaire Oei Hong Leong sets up firm One Belt One Net Pte and will invest $5b including in data centers and technology, according to emailed statement.
E-payment firms and blockchain are possible areas of interest: statement

[cyclone]

Lapse of Non-Binding Heads of Agreement

The Board of Directors of IPC Corporation Ltd refers to:
1. the Company’s announcement dated 18 September 2017 in relation to the entry into a non-binding heads of agreement ("HOA") with Xinyuan (China) Real Estate Co., Ltd. for the proposed acquisition of 51% equity interest in Beijing iJourney Technology Development Co. Ltd (北京爱接力科技发展有限公司) ("the “Proposed Acquisition");
and
2. the Company’s announcement dated 18 September 2017 in relation to the entry into a HOA with Xinyuan (China) Real Estate Co., Ltd. for the proposed disposal of the Company’s hotel, "Grand nest HOTEL zhuhai" (the "Proposed Disposal"), 
(collectively, the “Announcements”).

Further to the Announcements, the Board wishes to announce that the HOA in relation to the Proposed Acquisition and the Proposed Disposal have lapsed and cease to have further effect between the parties as at the date of this announcement.

[cyclone]

Previously it was  Mr. Oei. Now it is Ngiam Shareholders.

Announcement Regarding the Conditional Offer for Shares in the Company

The Board wishes to inform shareholders that it has been notified by the Ngiam Shareholders that the offer by the Offeror to purchase 11,894,084 shares in the Company owned by the Ngiam Shareholders has been terminated with mutual consent. For the purpose of this announcement, “Ngiam Shareholders” refer to Mr. Ngiam Mia Je Patrick, Mr. Ngiam Mia Hong Alfred, Mr. Ngiam Mia Kiat Benjamin, Ms. Lauw Hui Kian, Essex Investments (S) Pte Ltd and their nominees.

[cyclone]

Proposed Divestment of the Group's Assets in Zhuhai

IPC Corporation Ltd announced that the Group intends to explore its options with respect to the proposed divestment of its hotel property and assets in Zhuhai in the People’s Republic of China ("Proposed Divestment").

In the event that the Proposed Divestment is completed, the Board will consider distributing the net sales proceeds (or a significant part thereof) to the Shareholders. In addition to the foregoing, the Board may also concurrently explore other investment opportunities that may provide additional revenue streams to the Group, to enhance the Group’s operating performance.

As at the date of this announcement, no agreement or arrangement has been entered into, and no buyer has been identified, in connection with the Proposed Divestment. The Company will make further announcements as and when there are material developments in respect of the Proposed Divestment.

[Vseeker]

Oei H. L. sold off his 32.96% stake !!

all 28.111m shrs sold for $11.245m ( @ 40c pShr )

12m shrs were bought by the NGIAMs