Sin Heng Heavy Machinery – A takeover target?

Sin Heng Heavy Machinery Limited (SGX: BKA) was in the headlines in 2025 due to a privatization bid by the controlling shareholders. With a history dating back to 1969 as one of Singapore’s leading heavy lifting and equipment rental firms, this possibility raises important questions for shareholders, analysts, and SGX market observers alike.

What’s Happened So Far

In March 2025, a consortium led by Tal United Pte. Ltd. — which includes Sin Heng’s executive management — launched a voluntary unconditional cash offer to acquire all issued shares of Sin Heng Heavy Machinery at S$0.58 per share in cash with the intent to privatize and delist the company from the Singapore Exchange.

The offer was structured to provide:

• A premium over recent trading prices as a clean cash exit opportunity for shareholders.

• A way for the company to reduce costs associated with meeting public listing obligations.

• Greater management flexibility to focus on operations without the regulatory and disclosure burdens associated with being a listed company

At the time of the offer announcement, major shareholders controlling a significant portion of shares had already given irrevocable undertakings to accept the approach, boosting the likelihood that the threshold needed to force a compulsory acquisition (commonly 90%) could be met.

However, the takeover was not successful as total valid acceptance then was 78.64% which was less than the 90% required. Hence, the company remain listed today.

Could a Takeover Happen Instead of a Privatisation?

A takeover — where an external party acquires controlling interest in the company — is always a possibility, but for Sin Heng, it would likely depend on:

• Whether another investor or strategic buyer submits a competing offer at a higher valuation.

• Market conditions and liquidity — SGX mid-to-small cap stocks often have lower trading volumes, making them less liquid and attractive for unsolicited bids.

• Regulatory conditions, including SGX and Monetary Authority of Singapore rules on takeover offers and minority protections.

From Bazi perspective

Now lets look at Sin Heng Heavy Machinery whether it could be taken over by a third party from a Bazi perspective. I use the date of incorporation stated on SGX website which is 30 March 1981 to plot the Bazi chart. Sin Heng Machinery has a 3 harmony Rabbit and Goat combo to form wood element. In Bazi, a combo could mean alliance, partnerships or attraction by outsiders. Current luck cycle is in the Pig luck cycle which form a perfect 3 harmony combo. This year is the year of the horse. It forms a hidden combo with the Pig in its current luck pillar. A hidden combo could mean hidden or secret deals. Also the year stem Bing form a Bing Xin stem combo. Hence, it is very likely that this year Sin Heng could have a deal of some sorts or even taken over by a third party as the Pig in the luck cycle represent external environment.

Conclusion

The question of whether SGX listed Sin Heng Heavy Machinery could be taken private or taken over is rooted in real corporate activity.

While a traditional takeover by an outsider has not yet emerged, such opportunities could arise if market interest strengthens and valuation expectations shift. Also from Bazi perspective, it does indicate some kind of corporate actions could emerge this year.

I don’t just recommend stocks — I guide you through your entire wealth journey. Connect with me via telegram here for a friendly chat on using Chinese Metaphysics in your investment journey. Disclaimer: Please note this article is written for educational purpose only. The stock mentioned in this article is not a financial recommendation to buy or sell and investors need to do their own research and due diligence before investing in any stock.