Intraco

[KopiKat]

Oei Hong Leong sold his stake. See SGX

Married deal this AM,

09:47:08 0.560 20,938,000 X

Other same price married deals,

11:14:24 0.560 1,002,000 X
12:53:54 0.560 50,000 X

Add up more than the SGX Annc total = 20,988,323. Perhaps later SGX Annc of Deemed Interests.

[brattzz]

today's biz time ran an article on this.

OEI sold out already... Tat Hong is the majority holder now.

[KopiKat]

Oei Hong Leong sold his stake. See SGX

Married deal this AM,

09:47:08 0.560 20,938,000 X

Other same price married deals,

11:14:24 0.560 1,002,000 X
12:53:54 0.560 50,000 X

Add up more than the SGX Annc total = 20,988,323. Perhaps later SGX Annc of Deemed Interests.

Latest SGX Annc explains the extra 1,002,000 shares,

Married deals completed on 4 July 2012:

1. Oei Hong Leong sold 20,988,323 shares at $0.56 each to Amtrek Investment Pte. Ltd.

2. Macondray Company Limited sold 1,002,000 shares at $0.56 each to Amtrek Investment Pte. Ltd.

Now I wonder about Macondray. Looks like also linked to Tony Chew..

I better stop here and focus on my XIRR...

[portuser]

Brattzz,
You have stated:
"today's biz time ran an article on this.
OEI sold out already... Tat Hong is the majority holder now."

On 7 June, Tat Hong denied having any stake in Intraco:
"Tat Hong Holdings Ltd (the “Company”) notes that various news articles published on 6 June 2012 and 7 June 2012 by Thomson Reuters and by Lianhe Zaobao respectively on the proposed acquisition by TH Investments Pte Ltd of a 29.89 percent stake in Intraco Ltd (the “Proposed Transaction”) mentioned the Company as the controlling shareholder of TH Investments Pte Ltd.
The Company wishes to clarify that the Company does not have any interest, direct or indirect, in TH Investments Pte Ltd and that the Company is not involved in the Proposed Transaction."

[KopiKat]

Brattzz,
You have stated:
"today's biz time ran an article on this.
OEI sold out already... Tat Hong is the majority holder now."

On 7 June, Tat Hong denied having any stake in Intraco:
"Tat Hong Holdings Ltd (the “Company”) notes that various news articles published on 6 June 2012 and 7 June 2012 by Thomson Reuters and by Lianhe Zaobao respectively on the proposed acquisition by TH Investments Pte Ltd of a 29.89 percent stake in Intraco Ltd (the “Proposed Transaction”) mentioned the Company as the controlling shareholder of TH Investments Pte Ltd.
The Company wishes to clarify that the Company does not have any interest, direct or indirect, in TH Investments Pte Ltd and that the Company is not involved in the Proposed Transaction."

An old Edge article that tells us who's TH Investments,

On April 5, Chwee Cheng & Sons Pte Ltd became a substantial shareholder of newly-listed TTJ Holdings, after it bought 12.4 million shares in the structural-steel supplier on the open market via its wholly-owned unit TH Investments Pte Ltd. This increased its stake to 8.32% from 4.77%.

Chwee Cheng & Sons was set up by Ng Chwee Cheng, the founder of Tat Hong Holdings, one of the largest crane companies in Asia-Pacific. Ng was ranked Singapore’s 30th richest man by Forbes Asia in 2009, with a net worth of US$250 million ($347 million). Ng has 14 children, including son Roland Ng San Tiong, who is the managing director of Tat Hong. Ng is a substantial shareholder of Tat Hong and also CSC Holdings, a foundation and geotechnical engineering company.

[KopiKat]

Latest twist by Oei Hong Leong, now offering to buy @ $0.63!

OFFER FOR 29.89% SHAREHOLDING INTEREST IN INTRACO LIMITED

OFFER FOR HANWELL HOLDINGS LIMITED’S 29.89% SHAREHOLDING INTEREST IN INTRACO LIMITED

[freedom]

what a drama! I thought OHL has sold its 20+% to Tony Chew?

[paullow]

why did OHL sell his stake at 56c and now offered to buy this similar stake at 63c?

something must be brewing. maybe he forsee that someone else would be keen to buy his entire stake at a higher price even. and this stake would mean more to this party than to him.

[freedom]

or the sale to Tony Chew is just smoke. He will buy back later.

[Musicwhiz]

*For full article, please visit the website.

The Straits Times
www.straitstimes.com
Published on Aug 08, 2012
Oei woos Intraco again after cashing out

By lee su shyan money editor

JUST as the Heineken deal for Asia Pacific Breweries took a surprising turn yesterday, the sale of a stake in trading firm Intraco also saw an unexpected development, albeit on a smaller scale.

Businessman Oei Hong Leong yesterday re-entered the fray when he said he wanted to buy Hanwell Holdings' 29.89 per cent stake in Intraco for 63 cents each.

This is the same stake Hanwell had agreed to sell to the family investment vehicle TH Investment that controls crane operator Tat Hong Holdings early in June.

Then, Hanwell had announced it was selling the stake in Intraco for 62 cents a share, or $18.28 million in all. At 62 cents, the price was more than twice Intraco's last traded price then, of 30 cents.

Mr Oei then made a surprise foray into Intraco, around the time that the deal was inked, which is subject to shareholders' approval. He bought 6.78 million Intraco shares on the open market at 50.03 cents apiece, plus a married deal for 14,047,323 shares at 50 cents each. He also bought 161,000 shares on June 22, but no price was disclosed. In all, he built up a stake of 21 per cent.

In the 1970s, Mr Oei ran one of the largest trading businesses in Indonesia, importing steel for government companies, and his firm dealt often with Intraco. He had said that he had bought the shares as it was like his "first love".

But last month, in another surprising twist, Mr Oei sold off this 21 per cent stake to Mr Tony Chew, executive chairman of investment firm Asia Resource Corporation.

Now a month later, Mr Oei is back in the fray.

Although the Hanwell sale to TH Investment was announced earlier, it has not been completed yet. Hanwell still has to seek the approval of its shareholders for the sale, due to take place on Aug 17. But Mr Oei's actions change the position again, as Hanwell now stands to get an extra cent per share if it takes his offer instead of the 62 cents that TH Investment is paying.

It looks likely that Hanwell will have to revise its proposal and put both proposals to the shareholders so that they can choose between the deals.

If Mr Oei succeeds in buying over this Intraco stake, he is also planning to make an offer for the rest of the shares of Intraco.
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