Tan Kong Heng, Tan Koon Chwee, Tan Kong Leong, Tan Kwong Soon, Tan Kong Sin and Tan Kong Guan entered into a sale and purchase agreement to sell 29.05% stake in PNE Industries Ltd (SGX:P07) for SGD 29.4 million on July 24, 2014. The buyer offered to acquire 97.5 million PNE Industries shares for SGD 0.30128 per share. Post acquisition, the sellers will continue to own 20.8% stake in PNE Industries. The sale and purchase is scheduled to be completed on August 8, 2014. As of September 2, 2014 the completion date extended to November 7, 2014. As of November 12, 2014, the completion has been further extended.

Tan Kong Heng, Tan Koon Chwee, Tan Kong Leong, Tan Kwong Soon, Tan Kong Sin and Tan Kong Guan cancelled the sale of 29.05% stake in PNE Industries Ltd (SGX:P07) on December 19, 2014. The deal was cancelled as certain conditions were not fulfilled by the buyer.