800 Super Holdings has entered into a non-binding memorandum of understanding (MOU) with Zero Spot Laundry Services to incorporate a new joint venture (JV) company.
The JV company will undertake the business of providing laundry services to hospitals as currently conducted by Zero Spot. It will also take on any other laundry services engagements in Singapore.
800 Super will hold a 60% stake in the JV company while Zero Spot will take a 40% shareholding.
Zero Spot provides professional laundry services to hospitals, hotels and serviced apartments in Singapore and Asia.
The location of the JV project shall be at Tuas South where 800 Super has started on the licensing process with the relevant authorities to build a waste to energy plant.
The MOU is not expected to have any material effect on 800 Super’s results for the current financial year ending 30 June 2016.
Shares in 800 Super closed flat at 47.5 cents.
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The JV company will undertake the business of providing laundry services to hospitals as currently conducted by Zero Spot. It will also take on any other laundry services engagements in Singapore.
800 Super will hold a 60% stake in the JV company while Zero Spot will take a 40% shareholding.
Zero Spot provides professional laundry services to hospitals, hotels and serviced apartments in Singapore and Asia.
The location of the JV project shall be at Tuas South where 800 Super has started on the licensing process with the relevant authorities to build a waste to energy plant.
The MOU is not expected to have any material effect on 800 Super’s results for the current financial year ending 30 June 2016.
Shares in 800 Super closed flat at 47.5 cents.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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