Tuesday, June 28, 2011

* PSL * (TP: 0.45 - 0.50)

PSL: To shed some light on new investors RES and priv indiv Awaludin. RES is owned in equal stakes by 4 priv indiv
a. Tan Ong Huat, executive director, See Hup Seng Limited;
b. Liew Ham Chow, ex-director and founder of Jackspeed Corporation Limited;
c. Lim Bok Hoo, ex-managing director of Heng Heng group; and
d. Goh Yew Gee, non-executive director of Wee Hur Holdings Ltd

Awaludin is an Indonesian businessman involved in the ferry, palm oil business and birds’ nest trading businesses in Indonesia. He is a director in PT Lestari Indoma Bahari, Dumai, Indonesia. He has, through his contacts, access to coal mining projects in Indonesia. He is keen to introduce opportunities to acquire coal mining businesses to the co and is looking to acquire a stake in the co through his put and call option.

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