Hai Leck founder offers $0.55 per share to privatise company

Cheng holds 88.9% of Hai Leck.

Hai Leck Holdings founder Cheng Buck Poh has made an offer to privatise the company at $0.55 per share via a scheme of arrangement.

According to the joint announcement by the company and Cheng Investment Management Pte. Ltd., the offer excludes shares held by Cheng, his affiliated company Cheng Capital Holdings Pte. Ltd., and any treasury shares.

Cheng controls 88.9% of Hai Leck through his direct stake and Cheng Capital.

The acquisition will focus on the remaining eligible shares, with shareholders set to receive $0.55 in cash for each share.

The move comes as the company faces financial challenges, having reported a net loss of $0.1m for the financial year ended 30 June 2024, compared to a net profit of $4.3m the previous year.

Cheng Investment Management believes the privatisation will provide the necessary flexibility to manage the company’s operations and long-term strategy more effectively as a private entity.

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia