Overseas Chinese Banking Corporation (OCBC Bank)

[felixleong]

the news said it is a binding bid. anyone cares to explain what is a 'binding' bid?

usually non-binding bid means no contract written
example expressing your interest in paying maybe X amount for this asset

A binding bid means its all written black and white in a contract already
if there is no higher bidder, OCBC must fulfill all terms stated in the contract agreed upon bidder & seller