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Far East Orchard Ltd Announces Joint Venture Memorandum Of Understanding With Toga Pty Limited

Wednesday, 12 Dec 2012 04:56am EST 

Far East Orchard Ltd announced that it has entered into a non-binding memorandum of understanding (the MOU) with Toga Pty Limited (Toga) in relation to a proposed joint venture. Pursuant to the MOU, the Company and Toga have agreed to explore the formation of a joint venture vehicle (the JV Vehicle) to serve as a hotel management and ownership platform. It is envisaged that upon the formation of the Joint Venture, the JV Vehicle will hold Toga's hotel management business as well as five hotel assets located in Australia (the ATAF Assets). 

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23 Jul 2014