19 Jul 2017
SINGAPORE: Singapore's mainboard-listed Rowsley Ltd on Tuesday (Jul 18) announced plan to expand into the healthcare sector with the signing of a non-binding term sheet to purchase the healthcare assets of its controlling shareholder, Lim Eng Hock, worth about S$1.9 billion (US$1.4 billion).
Rowsley is a multi-disciplinary real estate company with businesses in design and engineering, real estate development and hospitality.
A sales and purchase agreement is expected to be completed within two months.
The proposed acquisition is an all-share deal for a 100 per cent of Thomson Medical Pte Ltd and a 70.36 per cent stake in TMC Life Sciences Bhd (TMCLS), a Bursa Malaysia-listed company.
Thomson Medical is one of Singapore’s leading providers of healthcare services for women and children while TMCLS is a healthcare company which mainly operates through Tropicana Medical Centre, its flagship hospital.
The proposed acquisition will be financed through the issuance of new shares at S$0.075 per share.
“This proposed acquisition is an opportunity for us to acquire controlling stakes in two established healthcare assets in Singapore and Malaysia and be part of an expanding business,” said Rowsley Chairman, Ng Ser Miang in a statement.
“Healthcare is a big and growing market due to ageing demographics, longer lifespan, major trends to increase birth rates, and growing affluence. This deal will diversify Rowsley’s portfolio as well as strengthen our current businesses. It will also significantly increase Rowsley’s market capitalisation, market profile, and generate investor interest,” said Ng.
The proposed acquisition will also bring TMCLS's proposed Thomson Iskandar project in Iskandar, Johor, together with Rowsley's investment in Vantage Bay Healthcare City.
Thomson Iskandar is an integrated development that comprises a 500-bed general hospital, 400 medical suites and a retail mall.
The hospital will be equipped with state-of-the-art facilities and equipment.
“We will be able to derive synergy from combining both projects together under one company. Our enlarged company profile will further help us to attract high-quality healthcare players and investors to work with us on our Iskandar healthcare project,” said Ng.
Upon completion, Rowsley planned to issue bonus warrants to existing shareholders on the basis of two bonus warrants for every one existing share.
Each bonus warrant will have an exercise price of S$0.09 per share.
In addition, Rowsley planned to issue additional warrants (piggyback warrants) on the basis of one piggyback warrant for every one bonus warrant that is exercised.
Each piggyback warrant will have an exercise price of S$0.12 per share.
“We appreciate the support of our existing shareholders. The proposed issue of warrants is to reward our shareholders for their support of the firm. We will continue as a company to pursue opportunities that we believe provide long-term value to shareholders,” Ng said.
Upon completion of the deal, Rowsley will become a major healthcare player.
According to Singapore Exchange Market Watch statistic, healthcare is projected to be the leading sector in total returns to shareholders.
Singapore has boosted healthcare spending in recent years as its population ages.
One in four Singaporeans will be aged 65 and above by 2030, and similar demographics in Malaysia point towards an opportunity in primary healthcare and long-term healthcare.
“We are extremely excited at this opportunity to further transform Rowsley as we continue to build and grow our existing real estate related businesses,” said Ng.
Source: Bernama/de
Read more at http://www.channelnewsasia.com/news/business/singapore-s-rowsley-to-buy-healthcare-assets-for-up-to-s-1-9b-9043284
Showing posts with label TMC Life Sciences. Show all posts
Showing posts with label TMC Life Sciences. Show all posts
Wednesday, July 19, 2017
Monday, February 9, 2015
TMC Life Sciences to acquire Thomson Medical Hub in JB for RM400m
Posted on 9 February 2015 - 05:40am
sunbiz@thesundaily.com
PETALING JAYA: TMC Life Sciences Bhd, a healthcare operator and investment holding company controlled by businessman Peter Lim, has entered into a RM400 million related party deal to acquire Thomson Iskandar, a medical hub project located on 1.6ha of freehold land in Johor Bahru.
TMC has entered into an agreement with Best Blend Sdn Bhd, also partly owned by Lim, to acquire the entire issued and paid up share capital of BB Waterfront Sdn Bhd (BBWF), which is the owner of Thomson Iskandar.
The purchase consideration shall be settled by the issuance of 533.33 million new TMC shares at an issue price of RM0.75 per share, together with 266.66 million free warrants.
Best Blend is beneficially owned 70% by Lim and 30% by the Crown prince of Johor, Tunku Ismail Idris.
The company is also proposing to reward existing shareholders with a proposed bonus Issue of warrants entailing the issuance of 599,760,718 warrants on the basis of one warrant for every two TMC shares held.
The bonus warrants are subject to the completion of the share sale and purchase.
Both the consideration warrants and bonus warrants have an exercise price of 75 sen per warrant and an exercise period of four years.The deal is subject to shareholders and regulatory approvals.
The Thomson Iskandar medical hub is located at the Stulang Laut area, which is within 1km radius of the Malaysian CIQ complex located at the Causeway linking Singapore to Johor Bahru.
BB Waterfront has obtained zoning approval from the Ministry of Health Malaysia on July 7, 2014 and Dec 16, 2014 fora purpose built private hospital for the provision of multi-disciplinary healthcare services and an approval-in -principle for it to build and operate a 272-beds hospital. The proposed medical hub entails an integrated development into a medical hub that comprises a 500 beds hospital, 400 medical suites and retail mall (to facilitate and provide ancillary services to the operation of hospital and medical suites with an estimated gross development value of RM1.2 billion and a gross development cost of RM900 million.
As at last Friday, BB Waterfront has commissioned some preliminary works on the development which includes architectural, civil and structural engineering and mechanical and electrical engineering design and is expected to commence construction by end 2015. Hospital operations is expected to begin by late 2018.
The medical hub will contain a hospital named Iskandariah Hospital.
The medical hub will be managed by Thomson International, a subsidiary of Singapore private hospital owner and operator, Thomson Medical Pte Ltd.
"This transaction is timely as it allows the group to tap into the strong demand for quality and affordable healthcare in the Iskandar Region as well as the medical tourism from Singapore and the region. This acquisition will elevate TMC to the next level, " TMC chairman Datuk Khalid Abdul Kadir said.
Both Thomson Iskandar in Johor Bahru and the integrated healthcare campus at Tropicana Medical Centre in the Klang Valley once ready will see the group own and operate some 1,000 hospital beds.
sunbiz@thesundaily.com
PETALING JAYA: TMC Life Sciences Bhd, a healthcare operator and investment holding company controlled by businessman Peter Lim, has entered into a RM400 million related party deal to acquire Thomson Iskandar, a medical hub project located on 1.6ha of freehold land in Johor Bahru.
TMC has entered into an agreement with Best Blend Sdn Bhd, also partly owned by Lim, to acquire the entire issued and paid up share capital of BB Waterfront Sdn Bhd (BBWF), which is the owner of Thomson Iskandar.
The purchase consideration shall be settled by the issuance of 533.33 million new TMC shares at an issue price of RM0.75 per share, together with 266.66 million free warrants.
Best Blend is beneficially owned 70% by Lim and 30% by the Crown prince of Johor, Tunku Ismail Idris.
The company is also proposing to reward existing shareholders with a proposed bonus Issue of warrants entailing the issuance of 599,760,718 warrants on the basis of one warrant for every two TMC shares held.
The bonus warrants are subject to the completion of the share sale and purchase.
Both the consideration warrants and bonus warrants have an exercise price of 75 sen per warrant and an exercise period of four years.The deal is subject to shareholders and regulatory approvals.
The Thomson Iskandar medical hub is located at the Stulang Laut area, which is within 1km radius of the Malaysian CIQ complex located at the Causeway linking Singapore to Johor Bahru.
BB Waterfront has obtained zoning approval from the Ministry of Health Malaysia on July 7, 2014 and Dec 16, 2014 fora purpose built private hospital for the provision of multi-disciplinary healthcare services and an approval-in -principle for it to build and operate a 272-beds hospital. The proposed medical hub entails an integrated development into a medical hub that comprises a 500 beds hospital, 400 medical suites and retail mall (to facilitate and provide ancillary services to the operation of hospital and medical suites with an estimated gross development value of RM1.2 billion and a gross development cost of RM900 million.
As at last Friday, BB Waterfront has commissioned some preliminary works on the development which includes architectural, civil and structural engineering and mechanical and electrical engineering design and is expected to commence construction by end 2015. Hospital operations is expected to begin by late 2018.
The medical hub will contain a hospital named Iskandariah Hospital.
The medical hub will be managed by Thomson International, a subsidiary of Singapore private hospital owner and operator, Thomson Medical Pte Ltd.
"This transaction is timely as it allows the group to tap into the strong demand for quality and affordable healthcare in the Iskandar Region as well as the medical tourism from Singapore and the region. This acquisition will elevate TMC to the next level, " TMC chairman Datuk Khalid Abdul Kadir said.
Both Thomson Iskandar in Johor Bahru and the integrated healthcare campus at Tropicana Medical Centre in the Klang Valley once ready will see the group own and operate some 1,000 hospital beds.
Friday, August 8, 2014
M'sian billionaire Vincent Tan sells TMC shares to S'pore tycoon Peter Lim
Published: Friday August 8, 2014 MYT 12:00:00 AM
The Star Online
by daniel khoo
PETALING JAYA: Singapore billionaire Peter Lim Eng Hock has acquired an additional 26.6% in TMC Life Sciences Bhd from Tan Sri Vincent Tan Chee Yioun for 48 sen per share, raising his stake in the company to 59.2% and triggering a general offer for the rest of the shares he does not already own in the process.
Lim, however, intends to maintain the healthcare provider’s listing status on Bursa Malaysia.
Shares in TMC were last traded at 46.5 sen yesterday.
TMC said in an announcement that its board would hold an emergency meeting to deliberate on the offer and make an announcement in due course.
The takeover offer was effected after Tan, TMC’s second-biggest shareholder, hived off his stakes held through Berjaya Corp Bhd (BCorp) (11.6%) and Berjaya Land Bhd (BLand) (15%) in TMC for RM102.6mil to Lim via Sasteria (M) Pte Ltd yesterday.
A block of 160.68 million shares in TMC crossed in an off-market trade yesterday at 48 sen per share in the last minutes of trading just before the market closed for the day.
Lim had 32.6% in TMC prior to yesterday’s transaction.
Under Bursa Malaysia’s listing requirements, Lim will have to extend his takeover offer to all minority shareholders in the company at 48 sen a share and eight sen per warrant.
It has been speculated that the acquisition could be a prelude to Lim eventually parking all his healthcare services assets in Malaysia under one vehicle.
It is also notable that this transaction with TMC by Lim is reminiscent of what had happened to the-then Singapore-listed Thomson Medical Centre Ltd, which was privatised by him in 2010 in a similar transaction.
Lim had then also triggered a mandatory conditional offer for Thomson Medical after its largest shareholder and founder, Dr Cheng Wei Chen, sold his entire effective 39.34% stake at S$1.75 (RM4.48) a share in a direct business transaction with Lim.
Lim is also said to be injecting his planned 200-bed hospital at Iskandar Malaysia’s medical hub into TMC eventually.
Lim’s keen interest in TMC was first traced back four years ago in 2010 when he emerged with a 29.6% stake after acquiring a stake from TMC’s founder Datuk Dr Colin Lee Soon Soo in direct business trades then.
He later further raised his stake in the company and by the middle of 2011, held 32.6% in TMC, a stake which he had held on to until before yesterday.
Meanwhile, BCorp said it would realise an estimated total gain of RM21.64mil from these disposals while BLand, which is also a subsidiary of BCorp, said it would net total gains of RM3.62mil from this share sale to Lim.
“Currently, the total carrying value of the sale shares is about RM41.99mil or 45 sen per sale share, which has been purchased since January 2008. The disposals have enabled the BCorp Group to realise its investment in TMC,” BCorp said in its announcement.
Both BCorp and BLand said they would utilise the proceeds for working capital and/or the repayment of borrowings for the company.
Post-transaction, Tan will still have a residual direct interest of 0.40% and a deemed interest of 1.37% in TMC other than through the BCorp Group.
The Star Online
by daniel khoo
PETALING JAYA: Singapore billionaire Peter Lim Eng Hock has acquired an additional 26.6% in TMC Life Sciences Bhd from Tan Sri Vincent Tan Chee Yioun for 48 sen per share, raising his stake in the company to 59.2% and triggering a general offer for the rest of the shares he does not already own in the process.
Lim, however, intends to maintain the healthcare provider’s listing status on Bursa Malaysia.
Shares in TMC were last traded at 46.5 sen yesterday.
TMC said in an announcement that its board would hold an emergency meeting to deliberate on the offer and make an announcement in due course.
The takeover offer was effected after Tan, TMC’s second-biggest shareholder, hived off his stakes held through Berjaya Corp Bhd (BCorp) (11.6%) and Berjaya Land Bhd (BLand) (15%) in TMC for RM102.6mil to Lim via Sasteria (M) Pte Ltd yesterday.
A block of 160.68 million shares in TMC crossed in an off-market trade yesterday at 48 sen per share in the last minutes of trading just before the market closed for the day.
Lim had 32.6% in TMC prior to yesterday’s transaction.
Under Bursa Malaysia’s listing requirements, Lim will have to extend his takeover offer to all minority shareholders in the company at 48 sen a share and eight sen per warrant.
It has been speculated that the acquisition could be a prelude to Lim eventually parking all his healthcare services assets in Malaysia under one vehicle.
It is also notable that this transaction with TMC by Lim is reminiscent of what had happened to the-then Singapore-listed Thomson Medical Centre Ltd, which was privatised by him in 2010 in a similar transaction.
Lim had then also triggered a mandatory conditional offer for Thomson Medical after its largest shareholder and founder, Dr Cheng Wei Chen, sold his entire effective 39.34% stake at S$1.75 (RM4.48) a share in a direct business transaction with Lim.
Lim is also said to be injecting his planned 200-bed hospital at Iskandar Malaysia’s medical hub into TMC eventually.
Lim’s keen interest in TMC was first traced back four years ago in 2010 when he emerged with a 29.6% stake after acquiring a stake from TMC’s founder Datuk Dr Colin Lee Soon Soo in direct business trades then.
He later further raised his stake in the company and by the middle of 2011, held 32.6% in TMC, a stake which he had held on to until before yesterday.
Meanwhile, BCorp said it would realise an estimated total gain of RM21.64mil from these disposals while BLand, which is also a subsidiary of BCorp, said it would net total gains of RM3.62mil from this share sale to Lim.
“Currently, the total carrying value of the sale shares is about RM41.99mil or 45 sen per sale share, which has been purchased since January 2008. The disposals have enabled the BCorp Group to realise its investment in TMC,” BCorp said in its announcement.
Both BCorp and BLand said they would utilise the proceeds for working capital and/or the repayment of borrowings for the company.
Post-transaction, Tan will still have a residual direct interest of 0.40% and a deemed interest of 1.37% in TMC other than through the BCorp Group.
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
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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