Property developer Wing Tai Holdings will not try to
delist as a way out from rules requiring the company to dispose
of all units in its high-end residential projects within two
years of completion, its chairman said.
Cheng Wai Keung also called on the authorities to lift this
condition, which is stipulated under the Qualifying Certificate
on foreign housing developers, The Business Times reported.
Wing Tai, whose competitor SC Global was privatised and
delisted last year, is just over 50 percent owned by the Cheng
Like many other developers, it is stuck with unsold units in
high-end residential projects developed on sites bought at high
prices before the 2008 financial crisis.
NOTE: Reuters has not verified this story and does not vouch
for its accuracy.
(Compiled by Singapore Newsroom)