SINGAPORE (Apr 17): A private entity called Golden Development recently bought 350,000 units of Far East Hospitality Trust (FEHT) at an average price of 39.214 cents on the open market.

Golden Development is owned by proper- ty magnate Philip Ng of Far East Organization, which is the sponsor of FEHT.

With the purchase, Golden Development owns 1.19 billion shares in FEHT or 61%, up from 60.99% previously.

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