The LOI also requested that the grant of the options to purchase (OTPs) requires a waiver from the Singapore Exchange (SGX:S68
) Regulation (SGX RegCo) or in lieu thereof approval from TA Corp’s shareholders.
TA Corporation, on March 10, announced that it received a letter of intent (LOI) from SGUnited Capital to purchase various units at New World Centre for $43 million.
The LOI, dated March 8, proposed that the properties be sold on an “as-is-where-is” subject to existing tenancies where applicable. This means that TA Corp’s subsidiaries, which are also presently tenants of the New World properties, will continue to conduct their business in the same properties after the sale.
