UMS, the controlling shareholder, has bought out Ellipsiz' 10%. So UMS holding went up from 27.96% to 38.78%. That's why it had to make a takeover offer for the rest of the shares. I don't think UMS necessarily wants to take JEP private yet.
UMS has finally turned JEP around : It recorded a net profit after tax of S$2.2
million, up by 166% from $0.8 million in FY2017. Profitability improved due to the higher gross margin generated from the Precision Manufacturing segment. For the financial year ended 31 December 2018, the group reported overall gross margin of 15%, up by 3% a year ago.
I think JEP can continue to do better under UMS, so it's a good idea to hold on to the shares instead of selling to UMS at 15 cents.