Perennial China Retail Trust

[Boon]

It is merely a back door listing of a company. Nothing more than that.

the takeover of PCRT does not even try to get more undertaking from more shareholders of PCRT, which includes Mr. Martua Sitorus, a business associate of Mr. Kuok Khoon Hong(co-founder of Wilmar), holding almost 6% of PCRT according to annual report of 2012.

What does that tell you?

That make sense. I do agree that the PCRT offer seems base on best effort. Betting on the takeover is a pretty risky one.

Sitorus has interests in PREH - he is a party of the "Vendors". His interests in PCRT could have been included in the 27.93% PRCT shares to be injected into PREHL.

VGO on PCRT (Act 2) is to increase shareholders base to comply with listing rule.

(not vested)