Sin, executive chairman and CEO of the construction firm, first launched the offer on June 1.
He is doing so via a vehicle called GTV Capital, which he solely owns. Sin holds 66.02% of the company, which was listed in August 2012.
RHT reiterates that the closing date for the offer is July 20.
According to RHT then, Sysma is facing a "challenging environment", no thanks to manpower shortages, rising accommodation and material costs.
See also: Investors should accept ‘very good’ privatisation deal ahead of future uncertainty: FHT
The privatisation offer will give Sysma the "necessary flexibility to optimise its resources to protect the long-term competitiveness of the business."
On March 10, the company announced a loss of $2.7 million for six months ended Jan 31, reversing from the year-earlier earnings of $3.1 million.
Revenue in the same period was $29.6 million, up 16.4% y-o-y.
As at Jan 31, the company's net asset value was 23.19 cents per share, versus 24.26 cents as at July 31 2022.
