24.05.2016

Tat Hong sells Training division

Tat Hong has agreed the sale of Tat Hong Training Services Pte Ltd to Sun Ho Tony Ng for a total of S$410,000 in cash the deal should be completed on 7th June.

Tat Hong Training Services provides a range industry related training courses and represents less than one percent of the group’s business. It has also been facing operational and financial challenges in recent years.

The company said that the divestment is in line with its on-going exercise shrink the group, and focus on its core business of crane rental. The sale price is based on the carrying value of the company as of the end of March.

Sun Ho Tony Ng,63, is the brother of Tat Hong group chief executive San Tiong Roland Ng and is also director of Chwee Cheng & Sons, Tat Hong’s controlling shareholder, and a trustee of Chwee Cheng Trust, which in turn owns 42 percent of Chwee Cheng & Sons.

Sun Ho ‘Tony’ Ng resigned as Tat Hong’s deputy managing director at the end of March, although he remained on board as executive vice president special projects.