ABR Holdings Limited (SGX:533) entered into a memorandum of understanding to acquire Chilli Api Catering Pte Ltd., Chilli Padi Nonya Catering Pte. Ltd. and Chilli Padi Nonya Restaurant Pte. Ltd. from Patricia Lee Siang Choo, Lee Boon Hwa and Lee Cheng Watt on January 18, 2017. ABR Holdings has been granted period of up to 20 weeks from date of memorandum of understanding to conduct due diligence. ABR Holdings Limited (SGX:533) entered into a sale and purchase agreement to acquire Chilli Api Catering Pte Ltd., Chilli Padi Nonya Catering Pte. Ltd. and Chilli Padi Nonya Restaurant Pte. Ltd. from Patricia Lee Siang Choo, Lee Boon Hwa and Lee Cheng Watt for SGD 14.8 million on July 13, 2017. The acquisition will be completed in two tranches, first tranche of 80% and second tranche of 20%. The acquisition of the first tranche has been completed on July 13, 2017 by paying 90% amount representing SGD 13.3 million. The second tranche may be acquired through call option or put option. For the year ended December 31, 2016, Chilli Api Catering Pte Ltd., Chilli Padi Nonya Catering Pte. Ltd. and Chilli Padi Nonya Restaurant Pte. Ltd. reported net profit of SGD 2.7 million. Danny Lim and Chia Lee Fong of Rajah & Tann Singapore acted as legal advisor for ABR Holdings Limited. Shook Lin & Bok acted as legal advisor for Patricia Lee Siang Choo, Lee Boon Hwa and Lee Cheng Watt. ABR Holdings Limited (SGX:533) completed the acquisition of Chilli Api Catering Pte Ltd., Chilli Padi Nonya Catering Pte. Ltd. and Chilli Padi Nonya Restaurant Pte. Ltd. from Patricia Lee Siang Choo, Lee Boon Hwa and Lee Cheng Watt in 2017