Announcement • Jun 11
Shorea HwaHong Newfields VCC managed by NF Capital Partners Limited, Teo Shao-Lynn, Dawn, Albert Teo Hock Chuan and Wing Tai Land Pte. Ltd. completed the acquisition of Amara Holdings Limited (SGX:A34). Shorea HwaHong Newfields VCC managed by NF Capital Partners Limited, Teo Shao-Lynn, Dawn, Albert Teo Hock Chuan and Wing Tai Land Pte. Ltd. proposed to acquire Amara Holdings Limited (SGX:A34) for approximately SGD 510 million on April 28, 2025. A cash consideration of SGD 514.6 million valued at SGD 0.895 per share will be paid by the offerors. As part of consideration, SGD 514.6 million is paid towards common equity of Amara Holdings Limited. The acquisition shall be funded via a term loan facility. As of June 2, 2025, aggregate of 557,759,433 Shares, representing approximately 97.01% valid acceptances received. The offer will expire on June 10, 2025.
United Overseas Bank Limited acted as financial advisor for Shorea HwaHong Newfields VCC managed by NF Capital Partners Limited, Teo Shao-Lynn, Dawn, Albert Teo Hock Chuan and Wing Tai Land Pte. Ltd. W Capital Markets Pte Ltd acted as financial advisor to Amara Holdings Limited.
Shorea HwaHong Newfields VCC managed by NF Capital Partners Limited, Teo Shao-Lynn, Dawn, Albert Teo Hock Chuan and Wing Tai Land Pte. Ltd. completed the acquisition of Amara Holdings Limited (SGX:A34) on June 10, 2025. Accordingly, the Offeror is entitled to and will in due course exercise its right under Section 215(1) of the Companies Act to compulsorily acquire, at the Offer Price, all the Offer Shares held by Shareholders who have not accepted the Offer. As of the Closing Date, the total number of Shares owned, controlled, acquired or agreed to be acquired by the Offeror (including valid acceptances of the Offer) amount to an aggregate of 561,994,733 Shares, representing approximately 97.74 per cent. of the total number of Shares. Announcement • Apr 30
Shorea HwaHong Newfields VCC managed by NF Capital Partners Limited, Teo Shao-Lynn, Dawn, Albert Teo Hock Chuan and Wing Tai Land Pte. Ltd. proposed to acquire Amara Holdings Limited (SGX:A34) for approximately SGD 510 million. Shorea HwaHong Newfields VCC managed by NF Capital Partners Limited, Teo Shao-Lynn, Dawn, Albert Teo Hock Chuan and Wing Tai Land Pte. Ltd. proposed to acquire Amara Holdings Limited (SGX:A34) for approximately SGD 510 million on April 28, 2025. A cash consideration of SGD 514.6 million valued at SGD 0.895 per share will be paid by the offerors. As part of consideration, SGD 514.6 million is paid towards common equity of Amara Holdings Limited. The acquisition shall be funded via a term loan facility.
United Overseas Bank Limited acted as financial advisor for Shorea HwaHong Newfields VCC managed by NF Capital Partners Limited, Teo Shao-Lynn, Dawn, Albert Teo Hock Chuan and Wing Tai Land Pte. Ltd. New Risk • Apr 29
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Singaporean stocks, typically moving 9.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.5x net interest cover). Earnings have declined by 23% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (9.5% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.5% net profit margin). 
