TIH Limited
________________________________________________
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NEW RELEASE
TIH COMPLETES S$129 MILLION ACQUISITION OF MINORITY INTERESTS IN
MITSUI LIFE AND CEI
Singapore, October 20, 2014 – TIH Limited (“TIH”or the “Company”), a Mainboardlisted private equity fund company, through its subsidiary, TIHT Investment Holdings
Pte Ltd (“TIHT”), has completed a S$129 million acquisition of assets from Singapore
investment company, Temasek Holdings (Private) Limited (“Temasek”). This
comprises of a minority interest in CEI Contract Manufacturing Limited ("CEI") and
the assignment of beneficial ownership in a minority interest of Mitsui Life Insurance
Company Limited ("Mitsui Life").
The consideration of S$129 million is payable partly in cash, partly by way of
financing and an issue of shares in TIHT.
Post-completion, TIHT will be 55% owned by Killian Court Pte Ltd, a direct whollyowned subsidiary of TIH and 45% owned through an indirectly wholly-owned
subsidiary of Temasek.
Mr Kin Chan, Chairman, TIH said: “This acquisition is very much in line with TIH’
s
new strategy to expand our business beyond private equity and venture capital
investments. We are delighted about the confidence that is placed in us to help
create value for all stakeholders. Through TIHT, we will work hard at enhancing
capital return and value in order to deliver mutually rewarding returns to both parties.”
Page 1 of 3
Unique Entity Number: 199400941K
137 Telok Ayer Street #03-07, Singapore 068602
Tel: (65) 6224 1211 Fax: (65) 6225 5538
TIH Limited
________________________________________________
Temasek owns a S$223 billion portfolio as at 31 March 2014, mainly in Singapore
and Asia. Supported by 11 offices globally, its portfolio covers a broad spectrum of
industries:
financial
services;
telecommunications,
media
and
technology;
transportation and industrials; life sciences, consumer and real estate; as well as
energy and resources.
A member of the Sumitomo Mitsui Group, Mitsui Life has an established track record
in life insurance that dates back to 1927. Focused mainly on the Japanese market, its
products include individual and group life insurance, annuities, pensions and other
related products such as medical/living benefit.
Listed on the Singapore Exchange since March 2000, CEI’
s core business is in very
high-mix and low-volume contract manufacturing services and equipment integrator.
Headquartered in Singapore, CEI has manufacturing facilities in Singapore; Thuan
An, Vietnam; Batam, Indonesia and Shanghai, the PRC.
Mr Chan added: “TIH plans to expand its investment coverage to include special
situation investment opportunities with listed and private companies. As such, we will
broaden and deepen our strategic relationships with significant market players in the
Greater China and Southeast Asia region in order to improve deal sourcing and asset
management capabilities.
“We look forward to creating value and cementing our relationships with all our
strategic partners.”
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Unique Entity Number: 199400941K
137 Telok Ayer Street #03-07, Singapore 068602
Tel: (65) 6224 1211 Fax: (65) 6225 5538
TIH Limited
________________________________________________
About TIH
TIH Limited (“TIH”) is a SGX-listed closed-end fund set up in 1994. Throughout its
operating history and investment experience, TIH has invested in a broad variety of
sectors including Consumer & Industrial Products, Healthcare, Technology, Media &
Telecommunications, Food, Manufacturing and Chemicals, with a strong focus and
dedication to Asia. TIH has extensive experiences in cross-border private equity
investments and divestments, including but not limited to restructuring, mergers &
acquisitions, joint ventures and turnaround opportunities.
TIH seeks to work closely with the management of investee companies to create
value through strategic, operational and corporate finance inputs.
For more information, please visit www.tih.com.sg.
ISSUED ON BEHALF OF
:
TIH Limited
BY
:
Citigate Dewe Rogerson, i.MAGE Pte Ltd
55 Market Street
#02-01
SINGAPORE 048941
CONTACT
:
Mrs Elaine Lim / Ms Chia Hui Kheng
at telephone
DURING OFFICE HOURS
:
6534-5122
(Office)
AFTER OFFICE HOURS
:
9751-2122 / 9690‐3841
(Handphone)
EMAIL
:
[email protected] /
[email protected]
October 20, 2014
Page 3 of 3
Unique Entity Number: 199400941K
137 Telok Ayer Street #03-07, Singapore 068602
Tel: (65) 6224 1211 Fax: (65) 6225 5538
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