Singapore’s billionaire Sam Goi, via its business vehicle, Tee Yih Jia Food Manufacturing (TYJ), one of the world’s largest manufacturers of popiah (spring roll) skin, has made an offer to purchase 308.7 million PSC Corp shares for a total purchase price of S$123.5 million (US$96.3 million).
TYJ already owns 43.4% shares of PSC, and the offer signifies its plan to takeover PSC as TYJ seeks to scale up and diversify its business.
PSC Corp is a manufacturer and distributor of essential consumer goods which include rice and cooking oil. Last year, PSC bought 51% stake in Kim Guan Guan Coffee (KGG), marking its strategic expansion into coffee manufacturing and retailing.
Sam Goi said, “With a rich legacy spanning almost 40 years, KGG is a renowned brand that has become a household name in Singapore’s coffee industry. Its strong reputation for quality and consistency has established it as a dominant market player, making it an ideal addition to the group’s portfolio.”
