UOL Group enters deal to sell Parkroyal Kitchener Hotel

The hotel costs $525m.

Real estate firm, UOL Group, and its subsidiary signed a sale and purchase agreement with Midtown Properties Pte. Ltd for the disposal of 5,000,000 ordinary shares in Parkroyal Kitchener Hotel.

In a bourse filing, UOL said it arrived on a willing-buyer willing-seller basis taking in consideration of the valuation of the property with a report as defined:

A sum of $52.5m, which is inclusive of booking fee valued at $5.2m representing the deposit that has been paid by Midtown to PPHG
An amount in cash which shall be paid by Midtown to PPHG on the date on which the Proposed Disposal is completed

After the sale has been completed, the parties will agree on the Adjusted Net Asset Value of PKH as at the Completion Date if the Completion Adjusted Net Asset Value: (i) is less than the Estimated Adjusted Net Asset Value, PPHG shall pay to Midtown an amount equal to the deficit; or (ii) exceeds the Estimated Adjusted Net Asset Value, Midtown shall pay to PPHG an amount equal to the excess.

Follow the link for more news on

UOL Group Limited

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. 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