SC Global

SC Global: CEO Simon Cheong highlights his $1.80/sh privatisation offer is final and will not be raised. Mr Cheong's "no-increase" statement will prohibit him from making further amendments to his offer, which lapses at the close of Jan 16. The news will be disappointing for SC Global minority shareholders, with SC Global stock last trading at $1.90 before the weekend. SC Global also refuted speculation that it may explore a merger with Wheelock Properties, a 16.1% shareholder of the co. Says "there is currently no discussion with Wheelock Properties with respect to any merger". This denial was likely prompted by a DMG report, which ventured that a merger would be complementary, combining SC Global's land bank with Wheelock's strong balance sheet. Simon Cheong currently controls >60.9% stake, and needs to acquire a further 10.04% stake to lower SCGD's public float under the min 10% threshold required by SGX to stay listed. Minority shareholders who reject the offer face risks whether Mr Cheong succeeds or fails in privatising SC Global. Either they may be stuck with highly illiquid stock or the share price might drop, according to market watchers.