Corporate digest

Eu Yan Sang

EU Yan Sang has debunked media reports of the company going on sale, referring to them as "rumours". In a statement on Tuesday, Eu Yan Sang's CEO Aaron Boey said the group is aware of "certain press reports published today with respect to a possible sale of the company". Said Mr Boey: "As a policy, we do not comment on rumours." Instead, the group will remain focused on executing its strategies and enhancing shareholder value, he added.

The statement came after Reuters on Tuesday reported sources saying Eu Yan Sang was putting itself up for sale, but that the process would likely be delayed now given the novel coronavirus outbreak. It was because the Singapore company was looking at largely Chinese buyers, and had aimed to be valued at over US$500 million, said Reuters, citing the sources.