MYP Ltd. (SGX:F86) signed a letter of offer to acquire Straits Trading Building in the Central Business District of Singapore from Nine Battery Pte. Ltd. for SGD 560 million on June 1, 2016. MYP Ltd. (SGX:F86) entered into a conditional sale and purchase agreement Straits Trading Building in the Central Business District of Singapore from Nine Battery Pte. Ltd. on June 20, 2016. As per the terms of the deal, 1% of the purchase consideration has been paid as deposit. The transaction is intended to be funded by a combination of internal resources, bank borrowings and/or fund raising in the capital markets and is subject to entering into a definitive agreement, approval of the shareholders of MYP at an extraordinary general meeting to be held no later than December 15, 2016, approval of the SGX-ST and consummation of due diligence investigation. SGX-ST said on August 15, 2016, that it had no objection for waiver for strict compliance for the transaction. MYP Ltd. (SGX:F86) completed the acquisition of Straits Trading Building in the Central Business District of Singapore from Nine Battery Pte. Ltd. on December 23, 2016.