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Jaya Holdings gets lifeline to avoid delisting

It is considering an acquisition of Papua New Guinea-based micro-lender Heduru Moni's entire equity interest

Published Fri, Apr 1, 2016 · 09:50 PM

Singapore

CASH company Jaya Holdings may have again found a way to save itself from being delisted from the Singapore Exchange (SGX), and this time, it's a S$238 million lifeline thrown from Papua New Guinea.

The company announced on Friday that it has entered into a non-binding term sheet for the proposed acquisition of Papua New Guinea-based financial institution Heduru Moni's entire equity interest.

This is valued at about S$237.6 million, and Jaya will be purchasing it from vendo…

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