Corporate digest

Top Global

THE independent financial adviser (IFA) to Top Global's independent directors has deemed the offer by SW International for shares in the property and education group at 33 Singapore cents apiece as "not fair but reasonable".

Stirling Coleman Capital, the IFA, has also advised Top Global's board to recommend that shareholders accept the offer to realise their investment or sell the shares on the open market if they can obtain a higher price. SW International, the private investment vehicle of Top Global's executive chairwoman Oei Siu Hoa, had launched the voluntary conditional cash offer for the group's shares on March 28.