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PR Newswire
26-01-2017, 10:46 AM
2 interesting announcements for the start of the year:
1. Termination of Ausgroup rental contract.
http://infopub.sgx.com/FileOpen/BPL_Anno...eID=437024
Highlights:
In consideration for the payment of outstanding rental and property tax in
the amount of S$549,012.99, reduced rental of S$147,879.53 for the period
from 16 January 2017 to 31 January 2017 and an additional lump sum of
S$9,407,184.14 (the “Surrender Sum”), the Landlord consents to the
Tenant’s surrender and return of the Surrender Premises on 31 January
2017;
The sum of S$9,407,184.14 is to be paid partly by forfeiture of the existing
security deposit of S$3,235,862.74 held by the Landlord in cash and with
the remainder paid by monthly instalments over a period of 2 years, with
the last instalment to be paid on 31 December 2018;
2. Divestment of TripleOne Somerset.
Highlights:
As announced on 9 January 2014 by Boustead Singapore Limited, Boustead
Projects had entered into a PREH-led consortium to invest in PSI to purchase
TripleOne Somerset for S$970 million. Boustead Projects acquired a 5.5% stake
in PSI, investing approximately S$17.9 million.
Boustead Projects’ share of the total consideration paid by the Purchaser is
estimated at S$27.5 million. Boustead Projects expects to recognise a gross
gain on disposal of approximately S$8.9 million after deducting divestment
fees.
Investment start: Jan-2014
Divestment: Jan-2017
Vested Period approximately 3 years.
Buy amount: S$18M
Sell amount: S$27M
Return: S$8.9M (or approximately 50%)
A rather decent investment return.
<vested>
1. Termination of Ausgroup rental contract.
http://infopub.sgx.com/FileOpen/BPL_Anno...eID=437024
Highlights:
In consideration for the payment of outstanding rental and property tax in
the amount of S$549,012.99, reduced rental of S$147,879.53 for the period
from 16 January 2017 to 31 January 2017 and an additional lump sum of
S$9,407,184.14 (the “Surrender Sum”), the Landlord consents to the
Tenant’s surrender and return of the Surrender Premises on 31 January
2017;
The sum of S$9,407,184.14 is to be paid partly by forfeiture of the existing
security deposit of S$3,235,862.74 held by the Landlord in cash and with
the remainder paid by monthly instalments over a period of 2 years, with
the last instalment to be paid on 31 December 2018;
2. Divestment of TripleOne Somerset.
Highlights:
As announced on 9 January 2014 by Boustead Singapore Limited, Boustead
Projects had entered into a PREH-led consortium to invest in PSI to purchase
TripleOne Somerset for S$970 million. Boustead Projects acquired a 5.5% stake
in PSI, investing approximately S$17.9 million.
Boustead Projects’ share of the total consideration paid by the Purchaser is
estimated at S$27.5 million. Boustead Projects expects to recognise a gross
gain on disposal of approximately S$8.9 million after deducting divestment
fees.
Investment start: Jan-2014
Divestment: Jan-2017
Vested Period approximately 3 years.
Buy amount: S$18M
Sell amount: S$27M
Return: S$8.9M (or approximately 50%)
A rather decent investment return.
<vested>
My views are your Gilbert & Sullivan's:
"The flowers that bloom in the spring, have nothing to do with the case".
"The flowers that bloom in the spring, have nothing to do with the case".