SC Global

SC Global: To acquire 2 private companies, 100% of Lotusvale and 95% of Tannerson, which will jointly own a resort development situated at Bali, Indonesia for US$32.5m. This includes an option for co to purchase remaining 5% interest in Tannerson for US$1.7m. The site has a land area of approx 2m sf and is a seafront site on a cliff overlooking the Indian Ocean which co intends to develop into a resort or hotel. This will be funded by internal resources.