SGX also ordered ICG to conduct pre-deal anti-money laundering due diligence on the source of funds for any future major transactions or very substant
The stake sale process is still at an early stage under the advice of StanChart and UBS on the sell-side.
The stake acquisition will be executed through a share transfer on 30 September 2019 by Toyokawa Holdings.
AMG is wholly owned by a local family affiliated with Indonesian conglomerate Sinar Mas Group.
The acquisition is expected to contribute to Global Invacom's financial performance in the first full year of ownership.
China Automation Group has been conducting a strategic review to develop its future business plans and strategies.
UEM Group currently holds a 55% stake in toll road operator Lintas Marga Sedaya (LMS).
IPOs & Markets
The offer will allow YTL Land shareholders to swap their ownership with YTL Corp’s shares.
Medco Energi holds 88.62% in the power unit while IFC owns the rest.
Home furniture maker Wegmans is proposing to transfer its listing from ACE to the Main Market of Bursa Malaysia.
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