Yanlord Perennial Investment (Singapore) Pte Ltd ("Yanlord Perennial") has acquired 33.5% of the total voting shares in United Engineers Limited ("UEL") pursuant to a sale and purchase agreement dated 13 July 2017.
As a result of the acquisition, Yanlord Perennial has deemed interest in Apex Healthcare Berhad ("Apex") through the interest held by UE UMC Pte Ltd ("UE UMC"), a wholly-owned subsidiary of UEL by virtue of Section 8 of the Companies Act 2016.
Pursuant to the said Section 8, the following persons shall also be deemed to have interest in Apex through interest held by UE UMC:
(a) Yanlord Commercial Property Investments Pte. Ltd. ("Yanlord Commercial"), by virtue of its interest in Yanlord Perennial; and
(b) Yanlord Land Group Limited by virtue of its interest in Yanlord Commercial.