End of bidding war for Straits Trading is good news for minority investors
A bidding war between two of Singapore’s most famous corporate families has come to an end but not without a final climax. Insurer Great Eastern Holdings says it will sell its shares in Straits Trading to Tecity, which is controlled by the family of the late Tan Chin Tuan. On Sunday, the Lee family, the … Read more
Great Eastern to accept Straits Trading offer
Singapore insurance firm Great Eastern said on Monday that it will accept an offer for Straits Trading by Tecity, whose offer values the commodities and property firm at $2.18 billion (US$1.56 billion). Oversea-Chinese Banking Corp, together with insurance unit Great Eastern Holdings, control about 25 per cent of Straits Trading. — REUTERS Source : Business … Read more
Views from the top: If the US goes into a recession…
How will a US slowdown or recession affect your organisation and industry, and the Singapore economy in general? What can businesses do in the event of a slowdown? THE US recession had already started since December 2007. I predict that the federal funds rate will drop to one per cent by September 2008. After that, … Read more
Lees withdraw offer for Straits Trading
They are accepting Tan family’s $6.70 a share offer, citing volatile market conditions. The protracted battle for The Straits Trading Company (STC) has come to an abrupt end with OCBC Bank’s founding Lee family suddenly withdrawing its offer for the mainboard company and accepting the $6.70 per share competing offer from the Tan family’s The … Read more
Lees withdraw offer for Straits Trading
They are accepting Tan family’s $6.70 a share offer, citing volatile market conditions. The protracted battle for The Straits Trading Company (STC) has come to an abrupt end with OCBC Bank’s founding Lee family suddenly withdrawing its offer for the mainboard company and accepting the $6.70 per share competing offer from the Tan family’s The … Read more
Great Eastern should state stand on Straits Trading
THE tussle for control of The Straits Trading Company has dragged on for almost two months – during which the market has yet to know what substantial shareholder Great Eastern Holdings (GEH) thinks. The need for GEH to show its hand has become even more urgent with the Lee family throwing in the towel and … Read more
Tussle over for Straits Trading … almost
Lees say yes to Chew Gek Khim’s offer, but will OCBC? A rare and intense corporate tug-of-war between two distinguished families has ended with one side throwing in the towel, but not without first squeezing the other side. The Lees of OCBC fame yesterday retreated from the tussle for one of Singapore’s oldest firms – … Read more
Banks woo cash-rich en bloc residents
Talks held at Farrer Court to promote financial services to residents after estate’s $1.34 billion collective sale WHERE there is money, businesses will pursue it. So it is not surprising that at least two financial players, Citibank and IPP Financial Advisers, have held talks at Farrer Court to woo residents with their services. CITIBANK STAFF … Read more
Charmed circle
The Circle Line will open from next year, starting with Stage Three, which links the Bishan station on the North-South Line to the Serangoon station on the North-East Line. Experts say this added accessibility will boost property values in the areas around each station. Which are some of the notable stations and residential developments to … Read more
