The Place Holdings Limited (SGX:E27) entered into a non-binding Memorandum of Understanding to acquire 51% of the issued and paid up capital of each of Sun Xin Investment Pte. Ltd and Sun Oriental Pte. Ltd. from Diamond Era Holdings Limited and World Globe International Holdings Limited for SGD 20.468 million.

on March 7, 2022. Diamond Era owns 65% of the issued and paid-up capital of each of Sun Xin and Sun Oriental and World Globe owns 35% of the issued and paid-up capital of each of Sun Xin and Sun Oriental. Upon entering into the definitive agreement(s) in relation to the Proposed Acquisitions, the Company will make further announcements including information required under Chapter 9 and Chapter 10 of the Listing Manual of the SGX-ST.

Diamond Era will sell 3,315 shares and World Global will sell 1,785 shares.