Initiated a small position on IHC on 13 February 2017. This Company drew my attention when IHC shareholders, lead by Oxley Chief Executive & Deputy Chief Executive who controls about 26% of IHC stake voted out the entire board of IHC on 23 January 2017 .
At the same time, OUE controlled by Riady’s family had announced that it had acquired 12.54% stake in IHC on 23 Jan 2017 & it was further increase to 21.83% on 8 February 2017. Both transaction by OUE are at $0.077 per share.
A glance at IHC business & assets revealed why OUE are keen in increasing its stakes.
IHC business comprises of 12 quality Nursing Homes in Japan , a hospital in Wuxi China , 3 freehold commercial building in Victoria Australia .
IHC also owns freehold land in Kula Lumpur and is developing it into a landmark and upscale medical hub with serviced residences. (“KLCC Project”) which …