HLH Group halts acquisition of Cambodia property

Find out why the deal was terminated.

Mainboard-listed HLH Group yesterday revealed that it has terminated its plans to acquire 13,541 sqm of land in Cambodia, a plan which was first announced on June 19.

According to a release on the SGX, HLH and the seller have mutually agreed and entered into a termination agreement on 16 December 2014 to terminate the sale and purchase due to commercial reasons, strictly without any liability or breach of either party.

“In consideration of the mutual termination of the SPA without any fault of either party and in lieu of the deposit paid by the Company, the Company will receive a total sum of U$1,460,000,” HLH stated.

The Board confirms that such termination will not have any adverse effect on the business or
financial position of the Company.