Woodlands Square Pte. Ltd. (WSPL), a private limited company that was incorporated to own and undertake the development of Woods Square, has entered into an option to purchase with Far East Management to sell a property unit at Woods Square for a consideration of $1.8 million, including a discount of 10%.

The discount was calculated on the same basis as other applicable discounts under the same discount scheme.

The sale will constitute an interested person transaction (IPT) under the SGX-ST’s listing manual, as Far East Orchard’s immediate holding company, Far East Organisation, is 50% owned by the estate of Ng Teng Fong. The estate also holds a majority of the shares in Far East Management.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook