In April 2021, the Firm represented UMS Holdings Limited, a SGX-Mainboard listed company, (“UMS” or “Offeror”) in respect of the mandatory unconditional cash offer by UOB Kay Hian Private Limited for and on behalf of UMS in a take-over transaction valued at approximately S$38 million. The mandatory unconditional cash offer was triggered following the acquisition by UMS from Mr Zee Hoong Huay (“Seller”), of the latter’s shareholding interest in JEP Holdings Ltd. (“Offeree”) for approximately S$10.8 million. The Offeror and Offeree are SGX-listed entities. UMS was incorporated in Singapore on 17 January 2001 and is listed on the Mainboard of the SGX-ST. UMS and its subsidiaries are principally engaged in the business of manufacturing precision machining components and equipment.
Partner Claudia Teo and Senior Associates Tan Tien Wei advised on the transaction.