Partial offer made for 10.3% of Fu Yu

A PARTIAL offer for 10.3 per cent of the shares of plastic parts supplier Fu Yu Corporation has been made by the general manager of two of the company's subsidiaries. Ng Hock Ching, a former executive director of Fu Yu, currently holds a 7 per cent stake.

He is making an offer for 70 million shares at a price of 9 cents a share. The price represents a 3.2 per cent premium to the last traded volume weighted average price of 8.72 cents.

The offer is made for investment purposes, Mr Ng said in a Singapore Exchange (SGX) announcement yesterday evening.