June 8, 2020 / 5:43 PM / 2 months ago

BRIEF-OEL (Holdings) Enters JV Agreement With Shanghai Suntec

June 8 (Reuters) - OEL (Holdings) Ltd:

* 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: Further company coverage:

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