15 July 2021
Singapore

Deals Update | ZICO Insights Law advises The Place Holdings Limited on disposal of equity interest

ZICO Insights Law advised SGX Mainboard-listed company The Place Holdings Limited (“The Place”) on its disposal of a minor percentage of its equity interest in its formerly wholly-owned subsidiary, The Place Yuntai Investment Pte. Ltd. (“TPYI”), to an independent third party purchaser in Hong Kong for an aggregate consideration of HKD25,000,000 (or equivalent to approximately S$4,332,500) (the “Disposal”). The Disposal has been successfully completed on 30 June 2021. ZICO Insight Law Director Dr. Qiu Yang, assisted by Mr. Denzel Chua (Counsel) and Ms. Ngim Dean Gee (Associate), led the advisory team.

TPYI is a company incorporated in Singapore and directly holds 80% of the registered capital in Tianjie Yuntai Wanrun (Xiuwu) Property Development Co., Ltd. (天阶云台万润(修武)房地产开发有限公司), a company incorporated in the People’s Republic of China.

To see how ZICO Law can help you in Singapore and in ASEAN, please contact Dr. Qiu Yang.