Singapore

QUETZAL Capital has announced a voluntary conditional cash offer for PACC Offshore Services Holdings (POSH) at S$0.215 per share in cash even as the mainboard-listed company is mired in deeper losses.

Quetzal Capital is the bid vehicle formed by certain members of the Kuok group of companies, namely Kuok (Singapore); Trendfield Inc, a wholly-owned subsidiary of Kuok Brothers Sdn Bhd; and Merry Voyage Ltd, a wholly-owned unit of Kerry Holdings. The Kuok Group is a conglomerate with diversified investments in commodities, hospitality, logistics, real estate and shipping businesses, among others.