Advertisement
Singapore markets closed
  • Straits Times Index

    3,184.91
    -38.03 (-1.18%)
     
  • Nikkei

    39,098.68
    +836.48 (+2.19%)
     
  • Hang Seng

    16,725.86
    -17.09 (-0.10%)
     
  • FTSE 100

    7,706.28
    +21.79 (+0.28%)
     
  • Bitcoin USD

    51,630.04
    +546.16 (+1.07%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • S&P 500

    5,088.80
    +1.77 (+0.03%)
     
  • Dow

    39,131.53
    +62.42 (+0.16%)
     
  • Nasdaq

    15,996.82
    -44.80 (-0.28%)
     
  • Gold

    2,045.80
    +15.10 (+0.74%)
     
  • Crude Oil

    76.57
    -2.04 (-2.60%)
     
  • 10-Yr Bond

    4.2600
    -0.0670 (-1.55%)
     
  • FTSE Bursa Malaysia

    1,549.11
    +3.62 (+0.23%)
     
  • Jakarta Composite Index

    7,295.10
    -44.54 (-0.61%)
     
  • PSE Index

    6,913.21
    +10.06 (+0.15%)
     

SingLand approves sale of residential unit to CEO Jonathan Eu's wife for $7.7 mil

According to SingLand, no discounts were given for the proposed sale.

Singapore Land Group (SingLand) U06 has announced the sale of a residential development unit to Elaine Low, the wife of SingLand CEO Jonathan Eu.

On Dec 1, the company approved the proposed sale by its joint venture company, United Venture Development (Watten), of a unit in its Watten House project for a price of $7.7 million.

No discounts were given for the proposed sale.

Low will be making the purchase on behalf of a trust in which her son is a beneficiary.

SingLand says its audit and risk committee approved the sale after having reviewed and satisfied itself that the number and the terms of the proposed sale were fair, reasonable and not prejudicial to the interests of the company and its minority shareholders.

The company’s board of directors similarly conducted a review, from which Eu abstained, before granting its approval.

Shares in SingLand closed 1 cent lower or 0.51% down at $1.95 on Dec 1.

See Also: