Acquisition of Shares in Kian Ho Bearings LTD

Resource from: CBCC Likes:2966

Jan 22,2007

The Board of Directors of Tat Hong Holdings Ltd (the "Company") is pleased to announce that the Company has today acquired a total of 40,906,000 ordinary shares in Kian Ho Bearings Ltd ("KH") for an aggregate consideration of approximately S$10.6 million (the "Acquisition"). As at the date of this announcement, following the Acquisition, the Company owns 48,943,000 ordinary shares in KH ("KH Shares"), representing approximately 20.9% of the issued and paid-up capital of KH. Information on KH Incorporated in Singapore on 3 November 1973, KH is one of the largest stockists,distributors and retailers of bearings and seal products in South-East Asia and the Far East,catering primarily to bearing wholesalers, replacement markets and OEMs. KH was listed on the Singapore Exchange Securities Trading Limited ("SGX-ST") Dealing and Automated Quotation on 10 November 1995 and upgraded to the SGX-ST Mainboard on 2 February 1998.For the financial year ended 31 December 2005, KH recorded consolidated revenue and net profit after tax and minority interests of approximately S$92.2 million and S$6.3 million,respectively. As at 30 June 2006, KH's consolidated net tangible assets amounted to S$49.1 millon.

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