CHIH is 100%-owned by Dr Heah Sieu Min, who is HC Surgical Specialists’ executive director and CEO.
When the tenancy agreement was signed on Sept 6, Heah was also the company’s controlling shareholder with a direct interest of 42.98% of its shares.
As such, the tenancy agreement would constitute an interested person transaction (IPT) under Chapter 9 of the Singapore Exchange Securities Trading (SGX-ST)’s Catalist rules.
HC is operating at the premises under the name HC Endoscopy & Piles Centre (TPY), which is 100%-owned by the former.
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The current value of all IPTs, excluding any transaction below $100,000 for HC Surgical’s FY2024 ending May 31, 2024, currently stands at $559,176.
Shares in HC Surgical Specialists closed 2 cents lower or 5.26% down at 36 cents on Sept 6.
