Shares of HTL International Holdings have soared 170% this year to 63 cents, thanks partly to the $20 million received from Morgan Stanley Private Equity for a 15.5% stake in the company.

HTL, which has made fine leather sofas- such as its Raffles Collection brand- since its 1976 launch by the three Phua brothers, exports to more than 20 countries in three continents and employs 2,500 staff.

Share this story: