INFORMATION ON THE TARGET COMPANY. The Target Company is principally engaged in property management business. According to the financial statements of the Target Company which are prepared on a basis consistent with IFRS accounting standards, the unaudited (net liability)/net asset value of the Target Company for the two years ended 31 December 2018, 31 December 2019 and the nine months ended 30 September 2020 was approximately RMB(2,000,000), RMB870,000 and RMB2,600,000 respectively. Set out below are the financial information of the Target Company for the two years ended 31 December 2018, 31 December 2019 and the nine months ended 30 September 2020 respectively: For the year ended 31 December For the nine months ended 30 September 2018 2019 2020 unaudited unaudited unaudited RMB’000 RMB’000 RMB’000 Net profit/(loss) before tax 1,681 4,056 3,288 Net profit/(loss) after tax 1,261 3,042 2,466 The Group is principally engaged in the business of provision of property management services, community value-added services and value-added services to non-property owners in the PRC. The Target Company is a company incorporated in the PRC with limited liability. As at the date of this announcement, a total of 19 property management projects are managed by the Target Company with approximately 1.6 million sq.m. of contracted GFA under management. The Target Company mainly operates in Zhongshan city of Guangdong province of the PRC. The Sellers are principally engaged in property management services business, who are also the ultimate beneficial owners of the Target Company.
INFORMATION ON THE TARGET COMPANY. The Target Company is a company established in the PRC in 2003 with limited liability and is principally engaged in property management business. Set out below are certain financial information of the Target Company which are prepared on a basis consistent with CASSBE accounting standards for the years ended 31 December 2020 and 2021, respectively: For the year ended 31 December 2020 For the year ended 31 December 2021 Unaudited Unaudited (RMB’000) (RMB’000) Net profit/(loss) before tax 10,159.6 12,362.7 Net profit/(loss) after tax 8,635.6 10,508.3 The total assets of the Target Company at 30 June 2022 according to the unaudited financial statements of the Target Company was approximately RMB218.1 million.
INFORMATION ON THE TARGET COMPANY. The Target Company is a company incorporated in the PRC with limited liability. The Target Company is a property management company incorporated in the PRC, with not less than 3 million square meters of gross floor area under management.
INFORMATION ON THE TARGET COMPANY. The Target Company is principally engaged in property management business. According to the financial statements of the Target Company which are prepared on a basis consistent with IFRS accounting standards, the unaudited net asset value of the Target Company for the two years ended 31 December 2019 and 31 December 2020 was approximately RMB9,300,000 and RMB20,684,000 respectively. Set out below are the financial information of the Target Company for the two years ended 31 December 2019 and 31 December 2020 respectively: For the year ended 31 December 2019 2020 unaudited unaudited RMB’000 RMB’000 Net profit/(loss) before tax 6,503 10,222 Net profit/(loss) after tax 4,522 7,662 The Group is principally engaged in the business of provision of property management services, community value-added services and value-added services to non-property owners in the PRC. The Target Company is a company incorporated in the PRC with limited liability. As at the date of this announcement, a total of 31 property management projects are managed by the Target Company with approximately 5.5 million sq.m. of total contracted GFA. The Target Company mainly operates in Jiangsu province of the PRC. The Seller is principally engaged in investment holding. As one of the applicable percentage ratios (set out in Rule 14.07 of the Listing Rules) in respect of the Acquisition is more than 5% but all of them are less than 25%, the Acquisition constitutes a discloseable transaction of the Company under Chapter 14 of the Listing Rules, and is subject to the notification and announcement requirements but is exempt from Shareholders’ approval requirement under the Listing Rules. None of the Directors has a material interest in the Agreement and the transactions contemplated thereunder. Accordingly, the Directors are not required to abstain from voting on the relevant Board resolutions for approving the Acquisition.
INFORMATION ON THE TARGET COMPANY. 3.1 As at the date of this Announcement, AF is the sole legal and beneficial owner of the Target Company, which is an investment holding company.
3.2 The Vendors are in the process of consolidating their affiliated businesses and assets, as part of a restructuring exercise for the purpose of the Proposed Acquisition (the "Presale Restructuring Exercise"). The Vendors shall, upon completion of the Presale Restructuring Exercise, be the legal and beneficial owners of all the shares representing the entire issued and paid-up capital of the Target Company.
3.3 The Vendors are independent third parties unrelated to any of the Directors or Controlling Shareholders (as defined in the Listing Manual). AF is an Italian businessman who is the founder and Chief Executive Officer of the Target Group (as defined below), and will continue to be involved in the management of the Target Group after Completion (as defined below). BIC is an investment holding company incorporated in the British Virgin Islands, and is beneficially owned by Xxxxx Xxxxxxxx Xxx Xxx Hei, a Malaysian businessman. As at the date of this Announcement, none of the Vendors have any direct or indirect interest in the Company.
3.4 It is envisaged that the Target Company will, upon completion of the Presale Restructuring Exercise, be the ultimate holding company of the following entities:
(a) Belum Sdn. Bhd. (to be incorporated) Malaysia
(b) Japamala Resorts Sdn. Bhd. Malaysia
(c) Samadhi Sdn. Bhd. Malaysia
(d) Tamarind Restaurants Sdn. Bhd. Malaysia
(e) Travels by Samadhi Sdn. Bhd. Malaysia
(f) Villa Samadhi Sdn. Bhd. Malaysia
(g) Labrador Hill Pte. Ltd. Singapore
(h) Samadhi Retreats Pte Ltd Sri Lanka
(i) Cheeva Na Xxxx Company Limited Thailand (together with the Target Company, the "Target Group").
3.5 The businesses and operations that the Target Group is engaged in as at the date of this Announcement include but are not limited to:
(a) owning, developing, managing and operating luxury residences, hotels, resorts, villas and lodges;
(b) food & beverage operations; and
(c) land tours operations, in Southeast Asia (collectively, the "Hospitality Business").
3.6 Based on the unaudited pro forma financial statements of the Target Group for the three (3) months ended 31 March 2018, the net tangible asset value of the Target Group as at 31 March 2018 is approximately S$1,384,000, and the net profits attributable to the Target Group for the three (3) months ended 31 March 2018 is approximately S$233,000.
3...
INFORMATION ON THE TARGET COMPANY. As at the date of this Announcement, the Target Company is the holder of a mining licence and an exploration licence in respect of silver and manganese mines located in Zhuolu County, Hebei Province ( 河 北 省 涿 鹿 縣 ), the PRC. Based on a geological report prepared in May 2010 and supplied by the Intended Vendor, the said mines contains mineral reserves of approximately 422 tons of silver and 129,685 tons of manganese, whose total selection and refining recovery rate ( 選 冶 總 回 收 率 ) is 75%.
INFORMATION ON THE TARGET COMPANY. As previously disclosed in the November Announcement, the Target Company was incorporated in the People’s Republic of China (the “PRC”) and was previously listed on the PRC’s National Equities Exchange and Quotations. It specialises in the production of specialty chemicals used mainly for the construction industry, such as concrete admixtures, mortar admixtures, gypsum water reducing agents, floor care products and geotechnical engineering additives. The Target Company was introduced by a contact of the Chairman of our Group, Xx Xxx Jiangang. No introduction fees will be paid to any party in relation to the Proposed Acquisition. As at 31 December 2018, the net tangible asset value of 18.18% of the enlarged share capital of the Target Company is approximately S$1,557,000. Its open market value is not available as the shares of the Target Company are not publicly traded.
INFORMATION ON THE TARGET COMPANY. Golden Bridge Tianjie Investment Company Limited, a company to be established under the laws of PRC after the Restructuring of the Vendor Company, which is to have the Property as its only asset. The Property is located at 00 Xxxxxxxxxx Xxxx, Xxxxxxxx Xxxxxxxx which is at the heart of Beijing, PRC. It has an aggregate land use right area of approximately 3,651 square meters on which erected a building with a total gross floor area of approximately 5,722 square meters.
INFORMATION ON THE TARGET COMPANY. Incorporated in Singapore on 16 September 2002, the Target Company is a private company limited by shares with an issued and paid-up share capital of S$1,500,000 comprising of 1,500,000 ordinary shares. As at the date of this announcement, the shareholding structure of the Target Company is as follows:- Name of Vendor Number of ordinary shares held in the Target Company % shareholding interest held in the Target Company
1. Shitthi Nabesathul Bathuriahal D/O Xxxxx Xxxxx 1,050,000 70 2. Xxxxxxxxx Xxxxxx S/X Xxxxxxxxx 300,000 20 3. Perumal S/O Gopal 150,000 10 The Target Company is principally engaged in the provision of waste management, recycling and disposal services to industrial and commercial clients and specialises in providing collection, transfer, disposal, recycling and resource recovery services to the cruise and ship industry in Singapore (the “Target Business”). As at the date of this announcement, the Target Company does not have any subsidiaries and operates only in Singapore. The Target Company is a registered General Waste Collector with the National Environmental Agency, licensed under Class A, Class B and Toxic Industrial Waste Collector for the collection and disposal of general waste, organic/food waste, E-waste, lead acid batteries and PVC. The Target Company is also licensed by the Singapore Police Force for the collection of arms and explosives (pyrotechnics) for safe disposal. The Target Company’s registered office and main waste processing facility of about 23,800 sq. ft. of land, is located at 00 Xxxx Xxxx Xxxxx, Xxxxxxxxx 000000 and is approved by the National Environmental Agency to handle up to 50 tons of waste per day (“Kian Teck Facility”). As at the date of this announcement, the Kian Teck Facility has a fleet of 8 trucks which is used for day-to-day collection and transport of waste from ships and/or cruises that are docked at the ports of Singapore for further disposal or processing at the Kian Teck Facility. Operations at the Kian Teck Facility are also supported by more than 50 hook-lifting garbage bins, 2 excavators, 2 forklifts and 1 compactor. Presently, the Kian Teck Facility’s capabilities are limited to general waste collection, surface sorting, simple recycling and safe disposal only. The Target Company intends to leverage on its upcoming Integrated Cruise and Ship Waste Management and Recycling facility, located at 0X, Xxxx Xxxxx Xxxxxx 00, Xxxxxxxxx 000000 (“Tuas Facility”), which occupies about 90,000 sq. ft. of ...
INFORMATION ON THE TARGET COMPANY. Shareholding structure Financial information of the Target Company
