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Popiah King Sam Goi&rsquo s son to be CEO of PSC Corp
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.
SIC takes no further action on PSC Corp&rsquo s Sam Goi following breach of condition for share buyback exemption
On April 7, the Securities Industry Council (SIC) found that Goi Seng Hui, who is PSC Corporation' s (SGX:DM0) chairman, was in breach of Rule 14.1(a) of the Singapore Code of Take-overs and Mergers.
According to Rule 14.1(a), any person who acquires shares which (taken together with shares held or acquired by persons acting in concert with him) carry 30% or more of the voting rights, such person and persons acting in concert with him must extend offers immediately to other shareholders.
Furthermore, paragraph one of the Share Buy-Back Guidance Note of the Code states that when a company conducts share buyback transactions, any resulting percentage increase of shares will be treated as an acquisition for the purpose of Rule 14 of the Code.
Between May 2, 2023 and Oct 16, 2023, PSC Corporation undertook share buyback transactions under the share buyback mandate and as a result, Goi&rsquo s shareholding has increased from 29.97% to 30.22%.
With shareholding crossed the 30% threshold, Goi had breached a condition for the Share BuyBack Exemption and therefore he incurred a bid obligation on the initial purchase date. However, he did not make a general offer for PSC Corporation. Accordingly, he had breached Rule 14.1(a).
According to SIC&rsquo s statement, the breach was only discovered during the Council&rsquo s review of an application submitted by Goi back in last February, pertaining to a potential offer for PSC Corporation, which was unrelated to the breach.
In the statement, Goi states that he did not seek professional advice to confirm his understanding before making the purchases of shares in breach of the share buy-back exemption.
In terms of remedial actions, notwithstanding that the bid obligation was incurred at the highest purchase price of 36 cents per share, Goi decided to use the highest offer price of 40 cents per share to discharge the mandatory offer obligation incurred on Dec 4, 2023.
Taking into account the foregoing, as well as Goi&rsquo s cooperation during SIC&rsquo s review of the breach and in implementing the remedial actions, SIC decides to take no further action against Goi.
As expected, get ready for the improved offer! With the generous dividends Sam going to receive, he will use it to eat up all
nott1965 ( Date: 28-Feb-2026 08:32) Posted:
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Hang tight. Offer of at least $0.48 coming soon. Sam is determined to eat up this gem
This year PSC is giving 1.8 cts dividend, better than last year 
belugacat ( Date: 27-Feb-2026 17:27) Posted:
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No result reporting from company? Wonder how much so can invest in the company again
First he so scare Sheng Siong or NTUC or even Macrovalue who take over
Giant and Cold Storage , below 40 cent is too cheap to sell to him.
Government should stop him as there are many CPF investor invested in ths stock.
Giant and Cold Storage , below 40 cent is too cheap to sell to him.
Government should stop him as there are many CPF investor invested in ths stock.
belugacat ( Date: 07-Feb-2026 15:11) Posted:
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PSC Corporation Takeover Bid, - If you didn' t know
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.
. 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.
1. Lippo Malls Indonesia Retail Trust (LMIRT)
LMIRT launched a S$63 million rights issue in December 2025.
- Record Date: December 17, 2025.
- Ex-Rights Date: December 16, 2025.
- Rights Trading Period: December 22, 2025, to January 12, 2026.
- Exercise Period: December 22, 2025, to January 16, 2026.
- Listing of New Units: Expected on January 26, 2026.
- Ratio & Price: 117 new units for every 100 existing units at S$0.007 per unit.
Sam is busy scooping up shares below $0.40 now. Believed he will make another offer to delist soon, have to be above $0.40 to entice those who still holding to accept. So hang on for another few months as he cannot make another offer before 6 months
75% is trhe rule of SGX. He did it following the rules and a lot of shareholders accepted his offer of $0.40 / share which was $0.02 / sharee lower than his offer to another major shareeholder after he fought for the position of Chairman or Managing Director. If he is going to privatise PSC, then his offer must be reasonable.
I do not have a lot more shares to offer so I would not be worried about this matter. Had to sell the bulk of it (before he made the $0.40 offer) to top up one of my CPF accounts. My remainiing shares were kept as rights to attend PSC' s AGM ( but it is pointless now since he could make all the decisions himself now ). So my real loss is less than 0.5% divideeds per year for the shares that I already sold ( CPF' s interest rates for above $60k deeposits is 4% vs PSC' s 4.xx% ).
I do not have a lot more shares to offer so I would not be worried about this matter. Had to sell the bulk of it (before he made the $0.40 offer) to top up one of my CPF accounts. My remainiing shares were kept as rights to attend PSC' s AGM ( but it is pointless now since he could make all the decisions himself now ). So my real loss is less than 0.5% divideeds per year for the shares that I already sold ( CPF' s interest rates for above $60k deeposits is 4% vs PSC' s 4.xx% ).
Fataaa ( Date: 07-Nov-2025 15:24) Posted:
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Maybe can write to Minister Chee, he now looking into our bourse and dine with Sam. Maybe can tell him don' t bully the minority.
I think the minority shareeholders have no choice now as " Uncle Sam" already owns more than 82% ( by regulations he could privatise PSC since he owns more than 75% of the company ). He has not executed this move because he probably just depleted his personal cash reserves with the recent acquisitions. Uncle Sam is rich.
Do not sell your PSC shares at current level.
PSC own almost 64% of Tat Seng Packaging ,once privatise, PSC whould get back huge chunk of
proceed. SGX better scrutinise and monitor closely , PSC share holders should get
what they invested in PSC.
At current $0.40 PSC is grossly under NAV.
PSC own almost 64% of Tat Seng Packaging ,once privatise, PSC whould get back huge chunk of
proceed. SGX better scrutinise and monitor closely , PSC share holders should get
what they invested in PSC.
At current $0.40 PSC is grossly under NAV.
Must be a joke. So easy - just look at it' s historic chart, and you can easily see how much or how little the share price had climbed. Hahaha..
Are you sure he was good? PSC Corp share price has gone NO WHERE SINCE HE TOOK OVER AS EXECUTIVE CHAIRMAN!
bikerlover ( Date: 08-Aug-2025 20:11) Posted:
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I love PSC.
I sold half of my " hanwell shares" long time ago before Dr Goi took over the management control.
Ever since he took control the company, renamed back to PSC, it is doing better ever since.
I will keep my shares intact and will even buy more when the time/price is right.
Dr Goi Seng Hui s a good leader, to me. Your increased in share holdings, just gives me more confidence in this company.
Thank you.
I sold half of my " hanwell shares" long time ago before Dr Goi took over the management control.
Ever since he took control the company, renamed back to PSC, it is doing better ever since.
I will keep my shares intact and will even buy more when the time/price is right.
Dr Goi Seng Hui s a good leader, to me. Your increased in share holdings, just gives me more confidence in this company.
Thank you.