TA Corp receives LOI for New World Centre units

The proposed disposal is anticipated to constitute a “major transaction” under the listing rules of SGX-ST.

TA Corporation Ltd. has received a letter of intent (LOI) from SGUnited Capital Pte. Ltd., expressing interest in acquiring various units in the New World Centre in Jalan Berseh for $43m.

The LOI, received by the group on 8 March, includes the option to purchase forms for New World Centre units (OTPs), specifying that the sale is on an "as-is where-is" basis, subject to the existing tenancy(ies).

A condition also mandates that the grant of the OTPs requires a waiver from the Singapore Exchange Regulation or approval from TA Corporation Ltd. shareholders.

Additionally, a deposit of $468.7k must be placed with the LOI as a demonstration of the purchaser's interest. This is refundable if the condition is not satisfied by 8 April or a later agreed-upon date. If the option is granted, the purchaser has until 2 May to exercise it and complete the proposed disposal within 12 weeks.

Shareholders' approval is also necessary by the completion date. Failure to secure approval will result in the lapse of OTPs, rendering them void ab initio, and refunding all funds to the purchaser.

Moreover, the subsidiaries of TA Corporation Ltd. currently operating in the New World Centre will continue business activities after the proposed sale.

The proposed disposal is anticipated to constitute a “major transaction” under the listing rules of the Singapore Exchange Securities Trading Limited.

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia