SG brief: Sinjia Land and BINEX

Singapore two-dollar bills

Sinjia Land has entered an agreement to pay BINEX Japan a refundable deposit of S$1 million to ensure the sellers of BINEX Singapore amend the acquisition deal to extend the long-stop date by nine months to end-2023, the Singapore-listed company said in a filing to SGX Thursday.

The extension is being sought because BINEX Singapore has entered memorandums of understanding (MOUs) for projects in Australia, which need more time to be implemented, the filing said.

BINEX Singapore is involved in cultivating sorghum and producing biomethanol from it, licensing bio-pellets from sorghum, and in buying and selling carbon credits from sorghum’s carbon dioxide-absorption.

Read more: Sinjia Land enters S$2B reverse take-over deal with BINEX Singapore