Saturday, December 11, 2010

S'pore's Healthway may get new outside investors

Sat, Dec 11, 2010

SINGAPORE - Healthway Medical Corp, which runs medical and dental clinics in Singapore and China, is speaking to potential investors who have expressed an interest in taking a stake, a company executive said.

"Healthcare in Singapore has become a very attractive sector for investors and Healthway has had its share of interest," Adrian Leong, group medical director and managing director of medical services, told Reuters in an interview.

"Some of this is in the midst of being discussed," he said. He declined to elaborate as the talks were confidential.

Interest in Singapore's healthcare sector has soared since Malaysian state investor Khazanah took over hospital operator Parkway in a US$2.6 billion (S$3.4 billion) deal earlier this year, beating a rival bid by India's Fortis Healthcare.

Singaporean billionaire Peter Lim is currently in the process of taking over Thomson Medical Centre for S$513 million (US$396 million).

Healthway has a market capitalisation of around US$205 million. The firm recently obtained shareholder approval to enter into transactions with interested parties, and it has hired a veteran healthcare executive with pan-Asian experience, Lam Pin Woon, as president and executive director.

Friday, December 3, 2010

Peter Lim mops up over 91% of Thomson Medical

The Business Times
3 Dec 2010
by Chen Huifen

THE route towards a delisting from the Singapore Exchange (SGX) appears to be set for Thomson Medical Centre, whose public float has fallen below the 10 per cent threshold required for continued listing.

By yesterday, its new owner Peter Lim had amassed 91.41 per cent of the healthcare services provider. And he still has about a week to go before his general offer closes on Dec 10.

The former 'remisier king' triggered a mandatory general offer in late October when he bought a 39.34 per cent stake in the obstetrics and gynaecology (O&G) centre from the founding Cheng family. The offer, at $1.75 a share, values Thomson Medical at $513 million.

In the past few weeks, Mr Lim has been raising his stake in Thomson Medical, through acquisitions in the open market as well as from accepting shares tendered in response to his cash offer.

Analysts had anticipated that shareholders would accept the offer, given that it represents a 30 times price-to-earnings ratio. Thomson Medical's historical average price-earnings ratio was about 15 times. The offer price was also a 62 per cent premium to Thomson Medical's share price before the announcement of Mr Lim's offer was made.

While Mr Lim has expressed his confidence in the hospital's 'potential to develop further as a regional healthcare company', he is keeping his plans close to his heart. It is not clear if he will seek synergies between Thomson Medical and other healthcare-related stocks he has invested in, such as TMC Life Sciences Bhd in Malaysia.

Thomson Medical posted a 24.2 per cent jump in full-year net profit to $15.88 million for the 12 months ended August. Revenue rose 21.2 per cent to $81.67 million.

Friday, October 29, 2010

Private investor Peter Lim makes general offer for Thomson Medical Centre

Written by The Edge
Friday, 29 October 2010 20:11

Sasteria, an investment holding company controlled by private investor Peter Lim, today said it is making a mandatory conditional cash offer for Mainboard-listed Thomson Medical Centre.

The mandatory conditional offer is triggered by a married deal between Sasteria and the largest shareholder and founder of Thomson Medical, Dr Cheng Wei Chen and his family. Under the deal, the latter sold their 39.34% stake in Thomson Medical to the former at the offer price of S$1.75 a share.

Under the Singapore Code on Takeovers and Mergers, the cash offer will be extended to the remaining issued shares and is conditional on Sasteria acquiring more than 50% of Thomson Medical.

The offer price of $1.75 represents a 62% premium over the last traded price of Thomson Medical, and values the company at approximately $513 million. It is also the highest share price the company has ever been valued at since it went public in 2005.

Peter Lim says: “Thomson Medical is a leading healthcare service provider in Singapore for obstetrics, gynaecology and paediatric services. Given the growing population and affluence in the region, there will be increasing demand for private healthcare services. Singapore is a regional hub for such services and Thomson Medical is well-placed to tap on this demand. We believe it has potential to develop further as a regional healthcare company.”

Lim, 57, is a Singaporean businessman with extensive interests in a range of industries including agribusiness, fashion, logistics, food and beverage and healthcare. He is the second largest shareholder of F J Benjamin Holdings. More recently, Lim became a cornerstone investor in Global Logistic Properties (GLP), the largest provider of modern logistic facilities in Asia.

Thursday, October 21, 2010

IPO gravy train back on track with GLP debut

Thu, Oct 21, 2010
The Business Times

By Jamie Lee

SINGAPORE - Global Logistic Properties (GLP) lived up to its billing on its trading debut yesterday, with the stock surging as much as 12 per cent.

This should help pave the way for more initial public offerings (IPOs) to come to market over the next few months, market watchers say, noting that GLP's good start - coupled with Mapletree Industrial Trust's (MIT) expected strong debut this Thursday - should inspire confidence in the listings market.

GLP shares shot to $2.19 at the start of trading before easing to $2.17 by the closing bell, up 21 cents from its IPO price of $1.96. Some 514 million GLP shares worth $1.11 billion changed hands in a single day.

'The performance was pretty much in line with what people expected,' said Chan Tuck Sing, UOB-Kay Hian executive director.

But the share price could pull back in the coming weeks since retail investors - who are likely to be the price movers for this stock - might have already picked up the gains they were looking for, while the upcoming debut of MIT could divert some interest from GLP, Mr Chan added. 'As far as institutional investors are concerned, I don't think there's a real need for them to chase the stock. So we might see the price consolidate.'

But Loh Hoon Sun, managing director of Phillip Securities, said that there should be some support for GLP if retail investors see the stock as a long-term investment.

GLP - which has Government of Singapore Investment Corporation (GIC) as its single-largest shareholder - could become the world's largest real estate IPO, if it exercises its overallotment option.

The world record is currently held by Hong Kong- listed Link real estate investment trust (Reit) which, in 2005, raised US$2.9 billion in its IPO.

GLP's IPO is Singapore's second-largest after Singapore Telecommunications' IPO in 1993, which raised S$4 billion.

Of the 1.76 billion GLP shares offered, 1.07 billion shares were placed out to institutional players and other investors in Singapore.

Another 102 million shares - or 5.82 per cent - were offered to the public, while 589 million shares were set aside for cornerstone investors. These include Alibaba Group, CB Richard Ellis, ING Clarion Real Estate Securities, Lion Global Investors, and former 'remisier king' Peter Lim.

GLP's cornerstone investors are free to sell their shares at any time, since they are not limited to a lock-up period for the shares they own, GLP's prospectus showed.

GLP's IPO also saw a windfall of $74.4 million for its CEO Ming Z Mei and its deputy chairman Jeffrey Schwartz, who sold 37.97 million vendor shares in total as part of the IPO.

Both own Schwartz-Mei Group (SMG), which held 6.8 per cent of GLP, with GIC holding the remainder.

Post-IPO, SMG's stake has been halved to 3.4 per cent, while GIC will hold a 51.5 per cent stake if the greenshoe option is fully exercised.

Friday, October 15, 2010

Peter Lim withdraws bid for Liverpool

by Ian De Cotta 05:55 AM Oct 15, 2010 SINGAPORE

The battle for Liverpool has virtually ended for Singapore billionaire Peter Lim as he feels its board is intent on selling to New England Sports Ventures, at the exclusion of all other parties regardless of the merits of their bids.

In a statement last night, Mr Lim announced he was withdrawing his bid. "I have tried to engage constructively with the board and Royal Bank of Scotland (RBS) based on an offer, funded from my existing resources, providing greater value for Liverpool Football Club," said the 57-year-old tycoon.

"The board and RBS have chosen not to respond or to discuss my offer with me. My representatives even offered to meet the board last night. This was ignored, although NESV was invited to attend that meeting."

Mr Lim added that his interest in acquiring the club remains if circumstances change.

Said Mr Lim: "I would however extend my very best wishes to Liverpool Football Club, the staff and players, and the fans, who really deserve better than this. I hope the club now moves towards realising its potential and achieves success on the pitch."

The 18-time English champions are mired in debts and have made their worst start to the Premiership campaign in close to half a century.

Co-owners Tom Hicks and George Gillett lost a London High Court case against the Liverpool hierarchy and major creditors Royal Bank of Scotland (RBS) on Wednesday that paved the way for the sale of the club to NESV.

But the American duo stalled the proceedings after successfully obtaining a temporary restraining order from a Dallas court on the same day.

Liverpool chairman Martin Broughton and RBS returned to the London High Court yesterday to fight the restraining order.

The Merseyside outfit face a nine-point deduction should the club fail to pay the £230 million Hicks and Gillett owe RBS by today and goes into administration.

Reds legend Phil Thompson warned it would take more than money to rejuvenate the club.

Speaking to MediaCorp in an exclusive interview - before Mr Lim's announcement to withdraw his bid - the former Liverpool defender said Mr Lim would probably be good for Liverpool, but is not sure the highest bidder is necessary the best to get the Liverpool board's nod.

"At this moment in time, anything is better than what we have from Gillett and Hicks," Mr Thompson told MediaCorp.

"I welcome serious people as long as they are serious about Liverpool football club ... but whoever the new owners are, they have to understand what Liverpool is all about, as well as our fans and culture.

MediaCorp understand that whoever wrests control of the five-time European champions must be committed to develop a new stadium and continually invest in "world-class players".

Mr Thompson added: "I don't want to hear false promises. I don't want to hear things like 'We will build a stadium very, very soon' ... the new owners must show they can bring stability to the club ... Everybody now has to pull in one direction, and that is when the performance on the pitch will improve."

Tuesday, October 12, 2010

A Singaporean bids for Liverpool

Former 'remisier king' Peter Lim ready to swoop if Boston bid fails

11:55 AM Oct 12, 2010 LONDON

On the eve of a court battle to decide the future ownership of Liverpool, a new contender - Singapore billionaire Peter Lim - is reportedly ready to make a higher offer for the club.

Mr Lim originally matched the £300 million ($622 million) being offered by the Boston bidders to wipe out the club's debts, two people with knowledge of the situation told The Associated Press yesterday. They spoke on condition of anonymity because of the sensitivity of the proceedings.

But Mr Lim, who was ranked 655th on Forbes magazine's list of global billionaires in March with an estimated net worth of about $2 billion, was told by text message last week that Liverpool chairman Martin Broughton, managing director Christian Purslow and commercial director Ian Ayre had rejected his offer in favour of one from New England Sports Ventures (NESV), which owns the Boston Red Sox baseball team.

Sportingintelligence reporting Mr Lim, once known as Singapore's "remisier king", as saying he was "surprised and disappointed" not to have gotten the chance to outbid NESV.

The Boston group have now signed a binding agreement, but Liverpool co-owners Tom Hicks and George Gillett Jr are trying to block the sale because they say it undervalues the club.

Such is the uncertainty surrounding Liverpool's future - the club's owners will face their chief creditors Royal Bank of Scotland in the High Court later today - Mr Lim believes his chances of a successful takeover remain alive.

Liverpool has debts and liabilities of about £285 million. Reports claim that Mr Lim, like NESV, is offering to repay all of Liverpool's £200 million long-term debt, take on £60 million of other debt and inject £40 million of working capital. Also on the table is millions of pounds for manager Roy Hodgson to improve on the squad during the January transfer window.

This capital, it is reported, would come from his own fortune, rather than through borrowing. Mr Lim is the eighth-richest man in Singapore, having made his fortune in stockbroking, and owns a string of Manchester United-themed bars across Asia.

It is understood that the Liverpool board is concerned that NESV will have to borrow to finance the takeover, which could leave the club in the same position as it is under Hicks and Gillett, a major point of concern among the football club's frustrated fans.

RBS wants the sale to the Red Sox owners to proceed and has already held off from putting the club into financial administration, a form of bankruptcy protection, or demanding instant repayment of the club's debts. Although Mr Lim's intervention will be immaterial if RBS wins the case, which could take several days to resolve, it may prove problematic for RBS and Liverpool if it aids the argument of Hicks and Gillett that they could have achieved a higher price for the club they still own. AGENCIES

Sunday, August 22, 2010

Singapore's richest give & don't tell

Extract from The Sunday Times
August 22 2010, Sunday

Do not expect Singapore's tycoons to make a hue and cry about their philanthropy like the high-profile and very public move by 40 American billionaires recently.

When it comes to giving out money, who they give to and even why they give,these multi-millionaires and billionaires prefer to keep it quiet.

The few who did open up to The Sunday Times cited education, health care, the elderly and the arts as some of their pet causes.

Their charity stems from influences like having a father who valued education, to growing up poor.

Former remisier king Peter Lim, ranked eighth with an estimated net worth of US$1.6 billion, is also a big supporter of education.

He made headlinesthis year when he pledged $10 million to the Singapore Olympic Foundation for sports scholarships, especially for students from poor families who find it hard to excel in sports without the money.

'As someone who comes from a humble background, I know what it's like to study and work at the same time to achieve one's dreams,' he said.

The publicity-shy son of a fishmonger had worked as a cabby, a cook and a waiter to fund his university studies.

Mr Peter Lim has also committed tofund, for several years, scholarships for bright and needy students at Raffles Institution and St Joseph's Institution International, as well as financial aid for students at NorthLight School and Assumption Pathway School.

Among the wealthy who also volunteer is Mr Peter Lim. He supports an annual project known as Operation Redshirt, to distribute foodstuff to the elderly poor during Chinese New Year.

'He'll carry the provisions himself. He picks up the trash and cleans up after events,' said Sister Marjorie Almodiel, centre manager for Apex Day Rehabilitation Centre for Elderly in Bukit Merah, who helps identify beneficiaries.

'I find him a very unusual rich man.'

Peter Lim, private investor

Net worth: US$1.6 billion

Causes: The elderly and education, including $10 million for sports scholarships

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

Friday, July 30, 2010

Singapore's 8th richest man this year

Published July 30, 2010

According to data collected by Forbes Asia. Mr Peter Lim, a investor is Singapore's 8th richest man with a net worth of US $1.6 billion.

Thursday, July 29, 2010

Peter Lim wins suit

Jul 29, 2010
By Lee Su Shyan, Deputy Money Editor

Biggest payout ever in S'pore for a person who is not a public leader

LEADING investor Peter Lim has won damages of $210,000 in a defamation case - likely the highest amount awarded to someone in Singapore who is not a public leader.

The previous high was likely $150,000 awarded to lawyer Arul Chandran in a libel case a decade ago, lawyers said.

Mr Lim's case centred on a long-running row over Raffles Town Club.

In October last year, he won his defamation suit against the club's shareholders, Ms Margaret Tung and Mr Lin Jian Wei.

Mr Lim had claimed that a statement signed by Mr Lin and Ms Tung was defamatory as it implied that the club's financial difficulties were due to mismanagement by the original directors. Mr Lim was said to be a de facto director during that period.

The statement was sent out to members in 2005, explaining why the club was embarking on a scheme of payment. The scheme was needed as the club had been sued by members for recruiting too many people, but could not pay the damages.

$420,000 for ST pocket money fund

The Straits Times
29 July 2010, Thur

By Lee Su Shyan

PRIVATE investor Peter Lim is donating $420,000 to The Straits Times School Pocket Money Fund, which helps needy children cover daily expenses.

Half of the sum, $210,000, will come from damages that he was awarded in a defamation case.

Mr Lim will match the award payout dollar-for-dollar and donate the total of $420,000 to the fund.

Mr Peter Khoo, the fund's organising chairman, said yesterday: "We need to raise $5 million this year to help more than 12,000 children. As of now, we are nowhere near the target set. And this donation will definitely help."

To mark its 10th anniversary this year, the pocket money fund recently launched an initiative encouraging Singaporeans to combine the virtues of thrift and generosity.

It is selling Help-A-Kid Coin Banks at $5 each. When the coin banks are full, users may either save the money for themselves or give any amount to charity.

The coin banks can be purchased at 40 NTUC FairPrice supermarkets, with full proceeds going to the fund.

Wednesday, July 28, 2010

Informatics: Peter Lim Eng Hock Increase Stake From 6.48% To 9.59%.

28 Jul 2010 09:27

Peter Lim Eng Hock, the man formerly known as the "Remisier King" increased its stake in Informatics Education Ltd. from 6.48% To 9.59% via open market purchase on 23 July 2010.

Wednesday, June 30, 2010

BT: Peter Lim pledges $10m to Singapore Olympic Foundation

30 June 10
by Lee U-wen
The Business Times

Former remisier king Peter Lim has made the largest ever donation in the history of Singapore sport, pledging $10 million to the three-month-old Singapore Olympic Foundation yesterday.

The funds will be used to nurture young sporting talents by providing scholarships over the next 10 years to athletes and students from the various national sports associations, primary and secondary schools and tertiary institutions.

Deputy Prime Minister and Singapore National Olympic Committee (SNOC) president Teo Chee Hean, who accepted the cheque from Mr Lim yesterday during a simple ceremony, said that the donation alone had met the foundation's initial target of raising $5-10 million in the first year.

'We hope that many successful Singaporeans will share his philanthropic drive and support for sports in Singapore,' he told the media gathered at the Raffles City Convention Centre. It was Mr Teo who launched the foundation in March this year together with visiting International Olympic Committee (IOC) president Jacques Rogge.

Mr Lim, who was one of the Republic's leading stockbrokers before leaving the industry in 1996 to become a full-time private investor, is one of the country's wealthiest people with an estimated net worth of US$1.5 billion.

The 57-year-old said that he was not nudged into making the donation, but rather his main motivation was to ensure that talented youths, particularly those from low-income families, are given as many opportunities as possible to develop their strengths. 'I've always felt that sports has been a very neglected area in our society, and funding is needed very much,' he said. 'I hope that this sum of money will not only raise awareness but kick off further funds to come in for this cause.'

He noted that there were many scholarships already available for the academically inclined, but few for those whose talent is in sports. 'Among the existing sports scholarships, many are given out on a performance basis. You don't get the money if you don't win first,' he pointed out.

Explaining how the $10 million will be spent, the foundation's chairman Ng Ser Miang said that a sum of $2.8 million will be set aside for the first year, and subsequently $800,000 for each of the next nine years. 'Over the next few months, we hope to raise another few million dollars, and part of this can be used to support the Youth Olympic Games (YOG) as well,' said Mr Ng, who is also a vice-president of the International Olympic Committee.

Both Mr Ng and Mr Lim were also announced as two of the foundation's seven board of directors. The other five are well-known personalities in the corporate and sporting circles, including Singapore Bowling Federation president Jessie Phua, Member of Parliament and lawyer Michael Palmer, SNOC secretary-general Chris Chan, KPMG managing partner Danny Teoh and financial services veteran Chan Lay Hoon.

Friday, June 18, 2010

Healthway Medical Corp

On June 2010, Lim Eng Hock,better known as Peter Lim, became a substantial shareholder in Healthway Medical Corp after he bought 14.6 million shares in the company on the open market via Kestrel Capital Partners, raising his deemed stake to 5.75% from 4.96%. A day later, he bought 5.1 million shares in the company, raising his deemed stake to 6.03%.

Healthway Medical is a private provider of primary healthcare, dental and specialist services. Formerly a stockbroker and now a full-time investor, Lim was ranked Singapore’s seventh-richest man last year by Forbes, with a net worth of US$1.5 billion ($2.1 billion).

For 1Q2010 ended March 31, Healthway Medical says net earnings fell 63.9% to $1.4 million, on the back of a 6.3% drop in revenue to $22.2 million.

Tuesday, April 27, 2010

F J Benjamin

26 April 2010

Last Tuesday, former stockbroker Lim Eng Hock, better known as Peter Lim, bought about 5.75 million shares in F J Benjamin on the open market via a series of transactions, raising his deemed stake to 6.16% from 5.15%. He also directly holds 65 million shares, or an 11.43% stake, in the fashion purveyor.

Last year, Lim was ranked Singapore’s seventh richest man by Forbes Asia with a net worth of US$1.5 billion ($2.1 billion). Now a full-time investor, the bulk of Lim’s fortune comes from his stake in Wilmar International, the world’s largest palm-oil firm that was founded by his former client Kuok Khoon Hong. Lim, 56, also holds a stake in brewery and restaurant Brewerkz.

Last month, F J Benjamin announced that it had secured the exclusive rights to distribute DeWitt luxury watches of Switzerland for Southeast and North Asia, including Singapore, Malaysia, Indonesia, Thailand, the Philippines, Hong Kong, Macau, Taiwan and South Korea. The agreement takes effect on May 1.

Friday, March 26, 2010

United Pulp & Paper Co. Ltd

26 Mar 2010

United Pulp & Paper Co Ltd said on Friday that a major shareholder, Peter Lim Eng Hock, has raised his interest in the company to 50.11 percentage.

United Pulp & Paper Company Limited is a Singapore-based investment holding company. The Company operates in three business segments: paper mill, recycled fiber and rental management. The paper mill division manufactures and sells industrial grade
paper products, including test liners, corrugated medium and grey chip, core board and laminated boards. The recycled fibre division collects and trades in waste paper
products and recycled fibre. The main types of waste paper include old corrugated carton, double liner kraft and old newspapers. The rental management division
rents out investment properties to third parties to earn rental income. As of December 31, 2009, the Company's subsidiary, UPP Investment (Asia) Pte Ltd, acquired an additional 40% interest in United Packaging Industries Sdn Bhd.