Stake changes: Western Properties interest in F J Benjamin rises

A la Senza outlet at Suntec mall in Singapore; F J Benjamin acts as manager and distributor for the brand.A la Senza outlet at Suntec mall in Singapore; F J Benjamin acts as manager and distributor for the brand.

Singapore substantial shareholder changes: F J Benjamin.

Western Properties’ direct interest in F J Benjamin Holdings rose to 16.72 percent from 7.36 percent previously after the acquisition of 120 million newly issued shares in a placement for S$3 million, according to a filing to SGX Tuesday by the Far East Organization.

Ng Chee Tat Phillip has a controlling interest in Western Properties’ holdings and is therefore deemed interested in the F J Benjamin shares, the filing said. 

In addition, Ng has a deemed interest in an additional 980,000 F J Benjamin shares held by Goodview Properties, the filing said. The estate of Ng Teng Fong has a controlling interest in Far East Organization Centre, which in turn has a controlling interest in Goodview properties, the filing said. Ng is a beneficiary of the estate. 

Ng is the CEO of Far East Organization and the son of late property titan Ng Teng Fong who founded the company in 1960. Far East Organization is Singapore’s largest private property developer, developing, owning and managing projects in the residential, hospitality, retail, commercial, medical and industrial sectors. The group also has projects in Australia, Japan and Malaysia.

F J Benjamin distributes and retails brands including Superdry, Guess, La Senza and Pretty Ballerinas across Singapore, Malaysia and Indonesia.

Segulah saw its holding in F J Benjamin diluted to 18.39 percent from 20.46 percent previously as a result of the placement, according to a separate filing to SGX.

Segulah is the investment holding vehicle of the Vistra Trust (Singapore), which is the trustee of Frank And Mavis Benjamin Trust, the filing said.

Raffles Investments

Raffles Investments saw its holding in F J Benjamin diluted to 8.39 percent from 9.34 percent previously due to the placement, according to a separate filing to SGX.

Aequitas Pte. Ltd. holds more than 50 percent of Raffles Investments, Tecity holds at least 20 percent of Aequitas, Tan Chin Tuan Pte. Ltd. (TCT) holds more than 50 percent of Aequitas, and Dr. Tan Kheng Lian holds more than 50 percent of TCT, the filing said, adding all the parties were deemed interested in Raffles Investments’ shares. 

Tan Kheng Lian is the mother of Chew Gek Khim and Chew Kwee San, who were both former directors of F J Benjamin.

Private investor Peter Lim Eng Hock’s interest in F J Benjamin was diluted to 9.18 percent from 10.21 percent after the placement, according to a separate filing to SGX.

Far East Organization is Singapore’s largest private property developer, developing, owning and managing projects in the residential, hospitality, retail, commercial, medical and industrial sectors. The group also has projects in Australia, Japan and Malaysia.