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PR Newswire
11-05-2018, 07:15 PM
Disposal of 12.5% of the Issued and Paid-Up Share Capital of Kingsland Data Center Pte. Ltd. by Nylect International Pte. Ltd.
Tai Sin Electric Limited announced that Nylect International Pte. Ltd.("NIPL") had on 7 May 2018 entered into a conditional share purchase agreement to sell its entire 12.5% equity stake comprising of 3,750,000 ordinary shares in Kingsland Development Pte. Ltd. ("Kingsland"), to Perpetual (Asia) Limited, in its capacity as trustee of Keppel DC REIT.
NIPL is 30% owned by Lim Kim Hai Electric Co (S) Pte Ltd, a wholly owned subsidiary of Tai Sin.
The Tai Sin Group’s share of the estimated profit after tax of NIPL resulting from the Disposal is about $3 million.
The Disposal if completed in the second quarter of 2018 as anticipated, would to an extent mitigate the weaker performance of the Tai Sin Group for the current financial year ending 30 June 2018 (as compared to the previous financial year).
Tai Sin Electric Limited announced that Nylect International Pte. Ltd.("NIPL") had on 7 May 2018 entered into a conditional share purchase agreement to sell its entire 12.5% equity stake comprising of 3,750,000 ordinary shares in Kingsland Development Pte. Ltd. ("Kingsland"), to Perpetual (Asia) Limited, in its capacity as trustee of Keppel DC REIT.
NIPL is 30% owned by Lim Kim Hai Electric Co (S) Pte Ltd, a wholly owned subsidiary of Tai Sin.
The Tai Sin Group’s share of the estimated profit after tax of NIPL resulting from the Disposal is about $3 million.
The Disposal if completed in the second quarter of 2018 as anticipated, would to an extent mitigate the weaker performance of the Tai Sin Group for the current financial year ending 30 June 2018 (as compared to the previous financial year).
Specuvestor: Asset - Business - Structure.