Sim, best known as the founder of the Osim lifestyle products company, invested in Trek 2000 back in 2015, paying 43.65 cents for 26 million new shares costing him a total of $11.35 million.
Businessman Ron Sim has withdrawn his letter of demand served on Trek 2000 International, after he divested the bulk of his stake to Terence Wong of Azure Capital in a married deal at 12 cents each.
Back in Dec 2024, Sim, alleging "fraudulent misrepresentations", tried to go after company founder Henn Tan and his son Wayne, who is the current executive chairman.
