Announcement • Jun 24
Aw Cheok Huat acquired acquisition of an additional 16.35% stake in ICP Ltd. (Catalist:5I4) Aw Cheok Huat proposed to acquire an additional 39.9% stake in ICP Ltd. (Catalist:5I4) for SGD 12.4 million on April 19, 2025. A cash consideration of SGD 0.009 per share will be paid by the buyer. The Offeror is deemed interested in 1,910,252,777 Shares approximately 57.16% of the total number of issued Shares and Concert Party Group holds additional 100,000,000 shares which equates to approximately 60.20% shares in ICP. The buyer has sufficient financial resources available to satisfy full acceptance of the Exit Offer.
In the event that the Offeror receives valid acceptances pursuant to the Exit Offer in respect of not less than 90% of the total number of issued Shares the Offeror would be entitled to exercise the right to compulsorily acquire all the Shares of the Shareholders who have not accepted the Exit Offer at a price equal to the Exit Offer Price.
The transaction is conditional upon ICP having obtained Shareholders Approval and SGX-ST agreeing to the application by ICP to delist from the Official List of the Catalist Board of the SGX-ST. As of June 9, 2025, the Offeror wishes to announce, that the condition to the Exit Offer has been fulfilled and the Exit Offer has therefore become and is hereby declared unconditional in all respects on the date of this Announcement. The Offeror has received valid acceptances of the Exit Offer in respect of an aggregate of 116,494,809 Offer Shares, representing approximately 3.49% of the total number of issued Shares. Accordingly, the Exit Offer will remain open for acceptance until 23 June 2025. The Offeror will not extend the Exit Offer beyond the Closing Date. Acceptances received after the Closing Date will be rejected. As of June 20, 2025 The Board wishes to announce that the SGX-ST has informed the Company through the Sponsor on 20 June 2025 that, based on the Company's submissions and representations to the SGX-ST, the SGX-ST has no objection to the Delisting subject to the Company making an immediate announcement of the proposed Delisting.
Aw Cheok Huat completed acquisition of an additional 16.35% stake in ICP Ltd. (Catalist:5I4) on June 23, 2025. Reported Earnings • Feb 08
First half 2025 earnings released First half 2025 results: Revenue: S$7.39m (up 22% from 1H 2024). Net income: S$805.0k (up 102% from 1H 2024). Profit margin: 11% (up from 6.6% in 1H 2024). Announcement • Dec 12
ICP Ltd. Appoints Ms. Lai Ven Li as Independent Non-Executive Director, Chairwoman of Audit Committee, Member of Nominating Committee and Member of Remuneration Committee The board of directors of ICP Ltd. announced appointment of Ms. Lai Ven Li as Independent Non-Executive Director - Chairwoman of Audit Committee - Member of Nominating Committee - Member of Remuneration Committee. Working experience includes June 2021 - August 2022, TrustCapital Advisors Investment Management Pte. Ltd. - Partner; and April 2009 - November 2020, CIMB Bank Singapore - Head of Corporate Banking. Other DirectorShips Past include 1. 3Cnergy Limited 2. Bluechip Capital Pte. Ltd. (Struck off). Other DirectorShips Present include Avarga Limited. Professional Qualifications include Bachelor of Commerce (Accounting and Finance), The University of Western Australia - Fellow CPA Australia and Chartered Accountant Malaysia. Other DirectorShips Past Directorships: 1. 3Cnergy Limited 2. Bluechip Capital Pte. Ltd. (Struck off), Other DirectorShips Present Directorship: 1. Avarga Limited, Director Experience Details Lead Independent Director of Avarga Limited - Lead Independent Director of 3Cnergy Limited. Appointment Date December 12, 2024. Consequent to the abovementioned change, the composition of the Board and Board Committees with effect from 12 December 2024 are as follows: Board of Directors: Mr. Koh Tien Gui as Independent Non-Executive Chairman; Mr. Aw Ming-Yao Marcus as Executive Director; Ms. Jean Tan as Independent Director; Ms. Lai Ven Li as Independent Director; Audit Committee: Ms. Lai Ven Li as Chairwoman, Independent Director; Mr. Koh Tien Gui as Independent Director; Ms. Jean Tan as Independent Director; Nominating Committee: Mr. Koh Tien Gui as Chairman, Independent Director; Ms. Jean Tan as Independent Director; Ms. Lai Ven Li as Independent Director; Remuneration Committee: Ms. Jean Tan as Chairwoman, Independent Director; Mr. Koh Tien Gui as Independent Director; and Mr. Lai Ven Li as Independent Director. 
