Jubilee Industries

Jubilee Industries: Terminated its non-binding MOU for the acquisition of Tenderside Ventures eight months after its proposal, after both parties were unable to reach a consensus on some of the terms. Since the announcement in Oct '13, Jubilee's share price hit a high of $0.255 on excitement that the counter would be the next SGX-listed counter to jump on the Iskandar bandwagon via a proposed reverse takeover (RTO) of Tenderside. Recall, Tenderside owns a 60%-stake in Viridea Lakeside, which in turn has contracted to develop Viridea @ Medini Lakeside in Iskandar, comprising serviced apartments, retail units and Soho apartments spanning across 8.2 acres of land. With the termination of its proposed RTO, Jubilee will remain as a provider of precision plastic injection mould design and fabrication, precision plastic injection moulding and value added services, an industry which faces tough competition.