Aug 31, 2015 - inform shareholders that Colben Energy (Singapore) Pte Ltd ... opportunities in Southeast Asia for solar
ASIATIC GROUP (HOLDINGS) LIMITED (Company Registration No.: 200209290R) (Incorporated in the Republic of Singapore)
ENTRY INTO A INVESTMENTS LTD
MEMORANDUM
OF
UNDERSTANDING
WITH
SHUNFENG
The Board of Directors (the “Board”) of Asiatic Group (Holdings) Limited (the “Company”) wishes to inform shareholders that Colben Energy (Singapore) Pte Ltd (“SCE”), a wholly owned subsidiary of the Company, has on 28 August 2015 entered into a memorandum of understanding (“MOU”) with Shunfeng Investments Ltd (“SF”), which seeks to establish a framework for both SCE and SF to pursue opportunities in Southeast Asia for solar photovoltaic (“Solar PV”) power farm projects. In the event that the parties consider a project as viable, a joint venture company will be set up which will undertake the general EPC (engineering, procurement and construction) and O&M (operations and maintenance) services for the project; SF will provide bridge financing and SCE will assist to liaise with banks to secure long term financing for the project. The MOU is valid for a period of one (1) year although either party can terminate the MOU by giving three (3) months’ prior written notice. None of the directors or the controlling shareholders of the Company has any direct or indirect interest in this MOU, save through their shareholding interests in the Company. The MOU is not expected to have any material effect on the earnings per share or the net tangible assets per share of the Group for the current financial year ending 31 March 2016 as currently no definitive projects have been secured. The Company will make further announcements as and when there are material developments on the above. For more details of the parties, please visit their respective websites at:SF -
www.sfcegroup.com
SCE - wwww.asiatic.com.sg
BY ORDER OF THE BOARD
Tan Boon Kheng Managing Director 31 August 2015
ASIA_ACTIVE-804081427.1-KHASAN 08/31/2015 5:19 PM
This announcement (the “Announcement”) has been prepared by the Company and its contents have been reviewed by the Company’s sponsor, PrimePartners Corporate Finance Pte. Ltd. (the “Sponsor”) for compliance with the Singapore Exchange Securities Trading Limited (the “SGXST”) Listing Manual Section B: Rules of Catalist. The Sponsor has not verified the contents of the Announcement. This Announcement has not been examined or approved by the SGX-ST. The Sponsor and the SGX-ST assume no responsibility for the contents of the Announcement, including the accuracy, completeness or correctness of any of the information, statements or opinions made or reports contained in the Announcement. The contact person for the Sponsor is Mr Lance Tan, Director, Continuing Sponsorship, at 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, telephone (65) 6229 8088.
