Link: https://links.sgx.com/1.0.0/corporate-announcements/3DO128X6260Q3J2U/716c1c4e0be29662717c868244eb5bc5a5fdf52dbd37576cbbb6557132818420

Summary:

• Rich Capital Holdings Limited has entered into a sale and purchase agreement to dispose of its entire issued share capital in Rich Batam Private Limited (RBPL).
• The buyer is Mr. Yi Chengshu, an independent third-party Singaporean businessman.
• The total consideration for the disposal of 100% of RBPL's shares is S$1.00 in cash.
• The rationale behind the disposal is the non-viability of the Oxley Convention Project in Batam, Indonesia, allowing the Group to reduce associated expenses.
• The completion of the disposal is anticipated to take place on or before May 13, 2025.