Celine Tang, non-executive chairman of Chip Eng Seng Corp, is still in discussions on possible transactions involving the company’s shares, says the company in an update on Oct 7.
The possible transaction was first announced by the company back in Sept 7.
The company understands from Mrs Celine Tang that discussions on the possible transaction are still ongoing and there is no certainty that a definitive transaction involving the shares will materialise,” the company says.
Tang and her husband Gordon hold around 38% of Chip Eng Seng Corp.
Early this year, they completed the privatisation of another entity they control, SingHaiyi Group.
Chip Eng Seng shares have held steady at between 71 cents and 72 cents since the possible share transaction was announced.
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Year to date, the company’s share price has gained 69.05%, in line with the recovery of the construction sector.
Thus far this year, the local bourse has seen a lengthy list of privatisations attempts. The most recent was on Oct 6 when Lim Wai Mun of Doctor Anywhere is leading an offer of Asian Healthcare Specialist at 18.8 cents.
