Sun East

Sun East: lifts trading halt at open.
Singapore Petrol Development Co makes mandatory unconditional cash offer for all shares of Sun East at 0.2984cts/ sh that it does not own.
Prior to this, the Offeror acquired a combined 76% of the shares from major sh/h Ma Ong Kee and Sam Kok Yin, at the same price.
The Offeror does not intend to revise the Offer Price, except that it reserves the right to do so in a competitive situation.
The Offeror does not intend to extend the Offer beyond the closing date of the Offer, which shall be stated in the Offer Document.
However, it is the current intention of the Offeror to maintain the listing status of the Company on the SGX. As such, the Offeror does not intend to exercise any right of compulsory acquisition which it may have.

The Offeror may explore synergies between the complementary businesses and operations of Sun East, the Offeror as well as the Dahua Guohua Group, including but not limited to venturing into the business of trading of petrochemical products. This could be achieved by undertaking a comprehensive review of the organisation, businesses and operations of Sun East.
Kim Eng Corporate Finance is the financial advisor of this deal.