Ho Bun Hoi signed an agreement to acquire Thai Village (China) Pte. Ltd. from Pavillon Holdings Ltd. (SGX:596) for SGD 2 million on January 6, 2016. The consideration includes SGD 1.4 million to be paid by February 6, 2016 and the balance by June 30, 2016.

The deal is subject to necessary regulatory approvals and shareholders of Pavillon. The net proceeds shall be used by Pavillon for working capital.