The Business Times
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Resources Prima to acquire Chinese developer in RTO

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Nisha Ramchandani

Nisha Ramchandani

Published Tue, Oct 2, 2018 · 09:50 PM

Singapore

INDONESIAN coal miner Resources Prima Group has entered into a binding memorandum of understanding (MOU) with Hing Chung Group to fully acquire ChongQing HuangYang Property Development for S$33 million in what will result in a reverse takeover of Resources Prima.

ChongQing HuangYang is a China-based property development company. Its assets comprise property units totalling 2,332 square metres plus 293 car park lots in a commercial project located in Chongqing. It also owns 90 per cent of SiChuan Dading City Property Management.

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