Goi Kok Ming, also redesignated as executive director of the company, assumes both roles on May 5

[SINGAPORE] Goi Kok Ming, the son of &ldquo Popiah King&rdquo Sam Goi, has been appointed as chief executive officer of   PSC Corporation   : DM0 +3.66%, the company announced in a bourse filing on Thursday (Apr 9). 

 

The younger Goi, aged 53 and currently a non-executive and non-independent director in the company, will also be redesignated as its executive director. 

 

He takes on his new roles on May 5 and will oversee, plan, direct and control the company&rsquo s overall business activities, resources and operations.

 

Shares of PSC Corp rose 2.4 per cent or S$0.01 to S$0.42 in the first five minutes of trading on Friday.

 

PSC Corp, which manufactures and distributes a range of fast-moving consumer products, does not currently list a CEO in its top management team. Its last CEO, Henry Chu, was reported to have resigned in 2022 to pursue other career opportunities.    

 

In the last decade, Goi Kok Ming&rsquo s roles have included being chief operating officer and executive director at GSH Corporation, non-executive director at Serial System and Union Steel Holdings, executive director at Tee Yih Jia Group, and chief operating officer and executive director at Acelink Logistics.

 

He is a graduate of California State Polytechnic University, Pomona, with a bachelor&rsquo s degree in computer information systems. 

 

His father, Sam Goi, is the executive chairman and a substantial shareholder of PSC Corporation, and also chairman of food manufacturer Tee Yih Jia, known for its popiah skins. 

 

Last July, the elder Goi made a mandatory offer to buy the remaining shares of PSC Corporation at S$0.40 apiece, after having breached a rule in Singapore&rsquo s Code on Takeovers and Mergers in 2023.

 

The breach occurred when he purchased shares during an ongoing share buyback mandate, which pushed his stake past 30 per cent he did not make the required general offer at that point.

 

Goi said he had misunderstood the restrictions regarding the share buyback exemption, and was unaware that his share purchases on Dec 4, 2023 would breach the rules. 

 

After consulting with the Securities Industry Council (SIC), he announced the mandatory offer in July 2025, which would have given shareholders the opportunity to accept the offer for shares they held on Dec 4, 2023. 

 

On Apr 7, the SIC said it would take no further action against him, citing his remedial actions, including the offer. 

 

AI Overview
. This principle ensures fair and equal treatment of all shareholders in a take-over situation.Yes, shareholders who have already accepted a takeover offer are generally entitled to receive the higher, revised offer price if the offeror increases the bid price before the offer closesHere is a breakdown of how this process works:Revision of Offer Price: If, during the offer period, the bidder (or someone acting in concert with them) acquires shares at a higher price, the takeover offer must be raised to that higher price for everyone.
" Best-Price" Rule: Regulatory frameworks (such as the Singapore Code on Take-overs and Mergers) generally require that if an offer price is increased, all accepting shareholders receive the higher price, often referred to as the " best-price rule" .
Compensation for Early Acceptance: Shareholders who tendered their shares early are not penalized for doing so. They will be paid the higher, revised offer price.
Withdrawal Rights: If an offer is revised, shareholders who have already accepted typically have the right to withdraw their acceptance if the terms are modified, or simply to benefit from the higher price if it becomes the new final price.
Failed Takeover: If the takeover fails (e.g., the minimum acceptance threshold is not met), the offer is withdrawn, no shares are sold, and the shares remain with the original holders.
In summary, you do not need to worry about being locked into a lower price if the bidder later increases the price to succeed in the takeover.

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