Longcheer in MOU to buy Pacific Star's stake in Iskandar project

Singapore

SINGAPORE-LISTED Longcheer Holdings has entered into a non-binding memorandum of understanding (MOU) with Pacific Star Development to acquire the latter's 51 per cent interest in Puteri Cove Residences & Quayside for S$120-150 million in a cash-cum-shares transaction.

The other 49 per cent interest of this development project in Puteri Harbour, Iskandar Malaysia is still held by boutique developer DB2 Group.