Corporate digest

UMS Holdings

Its offer for Catalist-listed JEP Holdings has closed with valid acceptances representing 71.66 per cent of the total number of JEP's shares, announced UMS on Thursday. The mandatory unconditional cash offer, with a final offer price of S$0.20 per share, closed June 2, 5.30pm. UMS triggered the offer in April, after a stake purchase from JEP executive director Zee Hoong Huay took its cumulative interest in the machining and engineering firm to 53.8 per cent.

Sinostar PEC Holdings

It announced on Tuesday the appointment of former Member of Parliament John Chen as a lead independent director and non-executive independent director. Dr Chen, 67, also served as Minister of State and was the assistant secretary-general of the National Trades Union Congress from 1991-1997. He now holds various positions across several publicly-listed companies in Singapore.

KTL Global

The mainboard-listed firm has proposed to acquire for S$200,000 all 200,000 shares of Tianci Agritech, as part of broader plans to diversify into the fresh food distribution business in Singapore. Tianci is a producer and distributor of fresh vegetable and fruit. Its sole director, Chin Teck Oon, is also an executive director at KTL Global. Tianci's shares are held entirely by businessman Phuah Kin Huat, said the group on Thursday evening.