As at Sept 30, the company’s net asset value per share was 14.96 cents, versus 14.67 cents per share as at March 30.
Gordon and Celine Tang, the couple controlling developer SingHaiyi, is making an offer to privatise the developer, offering 11.7 cents per share for the 21.63% of the company they don't already own.
The offer price is a premium of 8.3% over the last traded price of 10.8 cents as of Nov 8, and values the company at around $498 million.
