AGT to commission valuer to assess offer from parent

Singapore

THE trustee-manager of Accordia Golf Trust (AGT) will commission a valuer to assess the value of the trust's golf courses and the holding company of the golf courses, it said in response to queries from the Singapore Exchange (SGX) on Thursday.

SGX had noted that the offer of 63.17 billion yen (S$783 million) from AGT's parent company, Accordia Golf Co, was lower than the net asset value of 65.53 billion yen indicated in AGT's results for the second quarter ended Sept 30, 2019. (see amendment note)