Samta Hotels, which belongs to the Ng family, the controlling shareholder of Furama, is making a voluntary unconditional cash offer for all the Furama shares it does not own at $2 each. The Ng family holds a total of about 103 million or 66.6% of Furama shares directly or through Samta.
Furama is an investment holding company focusing on the hospitality industry. The group owns the Furama RiverFront Hotel (formerly the Apollo Hotel Singapore) and the Furama City Centre Hotel (formerly the Furama Hotel Singapore). Furama also holds a 13% interest in the Grand Hyatt Hotel in Taipei and the company also entered into joint ventures with various Thai partners and invested in four hotel properties in Bangkok.