Jackspeed Corp H1 net profit dips 4.6% to S$3.2m

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Jackspeed Corp H1 net profit dips 4.6% to S$3.2m.

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In June, Yap Kian Peng, the executive deputy chairman and chief executive officer of Jackspeed, entered into a conditional sale-and-purchase agreement with the watchlisted company.

The deal will involve Jackspeed disposing the entirety of its business as a going concern and all assets and liabilities to a special-purpose vehicle to be incorporated and controlled by Mr Yap. The long-stop date for the agreement has since been extended by three months from Aug 30 to Nov 30, 2019. The period for Mr Yap to complete his due diligence exercise on Jackspeed has also been extended.

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