Mr Riady explains how he built up his business empire.
International Healthway Corporation Limited (IHC) was spun off from Healthway Medical Corporation (HMC) in 2013. Back then, its IPO price was 48c a share.
Being a HMC shareholder, I was given free shares of IHC which I have mostly forgotten about until the recent saga in which the entire board of IHC was given the boot.
Of course, it was revealed then that OUE Limited became a substantial shareholder of IHC.
Today, I received an offer from OUE to buy my shares. Offer price is 10.6c a share.
Two days ago, I blogged about receiving an offer from OUE for my shares in HMC. It seems that OUE sees potential in IHC too. Both IHC and HMC are probably undervalued in their eyes.
I don't have the business savvy, connections nor the foresight of the Riady family. What I do know is that they won't buy heavily into an investment unless they are able to benefit from it.
Both IHC and HMC suffered from having mediocre management which were too adventurous for their own good.
With my small stakes in both entities, I got tickets to go for the ride with the Riady family. Yes, I won't be accepting this offer either.
Now, from an email I received regarding my blog on HMC recently, I must emphasize that I am rather cavalier about the offers because my stakes are not only small, they are also free of cost. What I am happy doing, of course, might not sit well with others.
I apologise if my blog post on HMC offended some readers and, now, my blog post on IHC too.
If you should feel upset with what you hear, eavesdropping on AK, tell yourself that he is just a mental blogger. Ignore him.
Anger is bad for health. Way too bad.
HMC and free money from Lippo.