Thursday, August 19, 2010

Peter Lim buys big stake in TMC Life Sciences

Aug 19, 2010

PETALING JAYA - SINGAPORE billionaire Peter Lim Eng Hock has emerged with a 29.6 per cent stake in fertility firm TMC Life Sciences, filings with Bursa Malaysia showed on Wednesday.

But there was no indication of how much Mr Lim, dubbed 'the king of remisiers' in Singapore, paid for the 178 million TMC shares bought via Hong Kong's Gilberta Investments on Tuesday.

A separate filing, however, showed that TMC founder and managing director Colin Lee Soon Soo had sold his entire stake in the company at 52 sen a share on the same day, representing 20 per cent of the company's issued capital.

Two other off-market deals of 29.19 million shares and 454,585 shares were also made that day. It is believed that the shares belonged to Dr Lee's brother, Mr Lee Soon Swee.

Collectively, the three blocks represented about 25 per cent in the company valued at about RM78 million (S$33 million). It is unclear from where Mr Lim could have acquired the remaining 4.6 per cent of shares.

In June, Mr Lim, whose net wealth comes largely from his stake in palm oil firm Wilmar International, became a substantial shareholder in Singapore's Healthway Medical with a 5.75 per cent stake, signalling his appetite for health-related firms which have gained prominence lately, thanks to Asia's burgeoning health-care industry. -- THE STAR/ASIA NEWS NETWORK

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