{"id":22438,"date":"2016-08-10T06:00:16","date_gmt":"2016-08-09T23:00:16","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/sim-lian-founder-launches-cash-offer-to-privatise-developer\/"},"modified":"2016-08-10T06:10:37","modified_gmt":"2016-08-09T23:10:37","slug":"sim-lian-founder-launches-cash-offer-to-privatise-developer","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sim-lian-founder-launches-cash-offer-to-privatise-developer\/","title":{"rendered":"Sim Lian founder launches cash offer to privatise developer"},"content":{"rendered":"


\nArtist\u2019s impression of Wandervale EC by Sim Lian Group.
\nAn investment holding company owned by the Kuik family and led by Kuik Ah Han, Founder and Executive Chairman of Sim Lian Group (SLG), is looking to privatise and delist the property developer.
\nIn an SGX filing on Monday (8 August), Coronation 3G announced a voluntary cash offer for all outstanding shares of SLG that it doesn\u2019t already own.
\nThe offer price of S$1.08 per share is final and represents a 14.9 percent premium over the last traded price per share of S$0.94 on 4 August.
\n\u201cCoronation 3G believes that the offer presents SLG shareholders with a compelling cash exit opportunity given the illiquidity of its shares,\u201d it said, adding that the shares have not traded at or above the offer price since its listing in 2000.
\nCoronation 3G has secured irrevocable undertakings representing 80.36 percent of the total number of issued shares. The offer is conditional on Coronation 3G receiving acceptances of 90 percent of the total number of issued shares.
\nOversea-Chinese Banking Corporation Limited is the financial adviser to Coronation 3G in relation to the offer.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Sim Lian founder launches cash offer to privatise developer<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Artist\u2019s impression of Wandervale EC by Sim Lian Group. An investment holding company owned by...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-22438","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-5PU","jetpack-related-posts":[{"id":25287,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/coronation-3g-privatisation-offer-for-sim-lian-becomes-unconditional\/","url_meta":{"origin":22438,"position":0},"title":"Coronation 3G privatisation offer for Sim Lian becomes unconditional","date":"September 7, 2016","format":false,"excerpt":"\r Artist\u2019s impression of Wandervale EC by Sim Lian Group. Coronation 3G\u2019s voluntary conditional cash offer for all the issued ordinary shares of Sim Lian Group (SLG) has become unconditional. This comes after the total number of shares owned, controlled or agreed to be acquired by Coronation 3G and its\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":23139,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/pwc-appointed-ifa-to-sim-lian-privatisation\/","url_meta":{"origin":22438,"position":1},"title":"PwC appointed IFA to Sim Lian privatisation","date":"August 17, 2016","format":false,"excerpt":"\r PwC will advise the company\u2019s independent directors in relation with the voluntary conditional cash offer for the company. \u00a0 PricewaterhouseCoopers (PwC) has been appointed by Sim Lian Group (SLG) as its independent financial adviser (IFA) to advise the independent directors in relation with the voluntary conditional cash offer for\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":64471,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sim-lian-to-build-12-storey-condo-at-tampines-site\/","url_meta":{"origin":22438,"position":2},"title":"Sim Lian to build 12-storey condo at Tampines site","date":"August 24, 2017","format":false,"excerpt":"\r \u00a0 Sim Lian intends to develop a condominium project with over 2,000 units on the Tampines Court site, which it acquired for S$970 million, reported Business Times. This makes Tampines Court the biggest collective sale since 2007, when Farrer Court was sold for S$1.3388 billion. Exceeding the initial reserve\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":20927,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/treasure-crest-ec-60-oversubscribed\/","url_meta":{"origin":22438,"position":3},"title":"Treasure Crest EC 60% oversubscribed","date":"July 8, 2016","format":false,"excerpt":"\r Prospective buyers viewing the model of Treasure Crest EC. Sim Lian Group has received 800 e-applications for its 504-unit Treasure Crest executive condominium (EC) project, making the development around 60 percent oversubscribed as of Thursday afternoon. A total of 3,000 people have visited the Treasure Crest sales gallery since\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":104979,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/treasure-at-tampines-to-launch-at-an-average-price-of-1280-psf\/","url_meta":{"origin":22438,"position":4},"title":"Treasure at Tampines to launch at an average price of $1,280 psf","date":"March 14, 2019","format":false,"excerpt":"\r Artist\u2019s impression of Treasure at Tampines, an upcoming launch with 2,203 condo units. Singapore\u2019s largest condominium to date, Treasure at Tampines, will be launched for sale this Friday (15 Mar), with units carrying an average price of around $1,280 psf. Jointly developed by Sim Lian Holdings and Sim Lian\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":105365,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/treasure-at-tampines-moved-272-units-at-1280-psf-on-average\/","url_meta":{"origin":22438,"position":5},"title":"Treasure at Tampines moved 272 units at $1,280 psf on average","date":"March 25, 2019","format":false,"excerpt":"\r A Sim Lian spokesman said the developer was heartened by sales to date for Treasure at Tampines, which is located in one of Singapore\u2019s fastest growing regional centres. (Photo: Sim Lian) Treasure at Tampines sold 272 units at an average price of $1,280 psf during its launch weekend \u2013\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/22438"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=22438"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/22438\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=22438"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=22438"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=22438"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}