Osim CEO raises offer for massage-chair maker

ST, Money, pg 0, 26 Mar 2004Published in Colour[Ron Sim, 45, founder and CEO of Osim International, was named Businessman of the Year, for building his company, famous for its luxurious massage chairs, into a leading international brand name. ] Singapore Business Awards 2003.

SINGAPORE: Osim International Ltd chairman and chief executive officer Ron Sim (pic) increased his cash offer for a second time to S$331.4mil (US$246mil) to take Asia’s biggest maker of massage chairs private.

Sim boosted his offer to S$1.41 per share from S$1.39 through his investment vehicle, Vision Three Pte Ltd, according to a statement on Friday.