Koh Boon Hwee to invest in XMH Holdings

ANGEL investor Koh Boon Hwee is putting money into mainboard-listed diesel engine provider XMH Holdings, just days after investing in rubber processing firm Halcyon Agri Corporation.

XMH said that investment fund Credence Partners has agreed to buy up to 36.049 million new shares of XMH, or a 9.4 per cent stake, for $10 million.

The fund will buy them at $0.2774 per share through Credence Capital Fund II (Cayman).

Credence is founded by Mr Koh - the former chairman of DBS Bank and Singapore Airlines - Mr Tan Chow Boon and Mr Seow Kiat Wang.

It invests in small and medium enterprises across sectors such as manufacturing, and information communication technologies.

Mr Elvin Tan, XMH chief executive, said the investment was significant as Credence is XMH's first major institutional investor.