According to the valuations done by W Capital, the independent financial adviser, the company's fair value ranges between 24.6 cents and 28.8 cents per share.
W Capital took into consideration factors ranging from the company's net asset value, trading volume and growth prospects under current circumstances.
The offer of 16 cents per share was tabled on May 15, a slight revision from an earlier of 14.5 cents put forward last June.
The Goh brothers control a total of 86.06% of the company.
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The offer, according to the Gohs, comes amid a “challenging business environment” in Singapore and its other key markets due to tariff uncertainties, geopolitical tensions among other reasons.
