Both companies share a common controlling shareholder and chairman, Celine Tang. She holds 44.3% of OKH Global, and together with her husband, Gordon Tang, they hold 38.23% of Chip Eng Seng.
OKH Global plans to sell a property to Chip Eng Seng Corp at $35 million - $3 million below the valuation price.
The sale was made via a public tender and the Chip Eng Seng subsidiary that is offering to buy the property was the only bid made, despite advertisements and other marketing efforts.
