ISEC Healthcare terminates joint venture deal with Haiyen

It continues to look out for opportunities in Vietnam.

ISEC Healthcare today announced the expiration of a non-binding memorandum of understanding (MOU) with Hai Yen Group signed last 16 January 2016.

As mentioned in the MOU announcement, the MOU shall expire no later than nine (9) months from 16 January 2016 if the Parties do not enter into any formalised agreements.

Further to the MOU Announcement, the Parties have not entered into any formalised agreements .

Following the Termination, the MOU will not be extended and the Parties had ceased negotiations on the MOU. In this regard, the Parties will not proceed with entry into any formalised agreements (including the JV Agreement) nor establish the JV Company.

As announced in the MOU Announcement, the MOU is non-binding and the Termination does not have any financial impact on the Group.

Notwithstanding the termination, ISEC Healthcare continues to see business potential in Vietnam and shall continue to look out for other business opportunities in Vietnam.