SINGAPORE (Yosefardi) – MYP Ltd has in July 26, 2013 entered into a conditional sale and purchase agreement to acquire Vayani Trading, which in turn holds 99.99% of the issued share capital of PT Petarung Tangguh Persada (PTP), for an aggregate consideration of S$43.3 Million.
Vayani is an investment holding company incorporated in the British Virgin Islands. Vayani does
not hold any assets save for 109,990 shares of PTP representing 99.99% of its issued share capital.
PTP is engaged in the business of property investment and its current portfolio comprises four commercial properties; Mall Bali, Bali Galeria, Galeria 21, and Shophouse.
Based on the audited financial statements of PTP for 15 months ended 31 March 2013, the total rental income (and service charge) from the Properties is approximately Rp.110.04 billion.
