Brief: OEL (Holdings) Enters JV Agreement With Shanghai Suntec

AJJ Medtech Holdings

08/06/2020 18:38

June 8 (Reuters) - OEL (Holdings) Ltd  OELH.SI :
    * ENTRY INTO JOINT VENTURE AGREEMENT
    * ON 7 JUNE ENTERED INTO JVA WITH SHANGHAI SUNTEC
    * UNIT AJJ HEALTH CARE MANAGEMENT TO HOLD 80% INTEREST IN JV
CO &
20% INTEREST BY SHANGHAI SUNTEC
    * JV CO INCORPORATED IN SINGAPORE FOR MANUFACTURING,
DISTRIBUTION
OF HIGH-INTENSITY FOCUSED ULTRASOUND MACHINE, OTHER MEDICAL
EQUIPMENT
    * INCORPORATION OF JV CO TO BE FUNDED THROUGH INTERNAL
RESOURCES
    * INCORPORATION OF JV CO NOT EXPECTED TO HAVE MATERIAL
IMPACT ON
NET TANGIBLE ASSETS, 2020 EPS
    * EXPECTS TO COMMENCE HIFU PROJECT FROM JULY
    * HIFU PROJECT EXPECTED TO BE MARKETED IN SINGAPORE,
SOUTHEAST
ASIA, & SUBSEQUENTLY IN U.S. & OTHER NATIONS

Source text for Eikon:  ID:nSN5Y5k24 
Further company coverage:  OELH.SI 

 ((Reuters.Briefs@thomsonreuters.com;))