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Chip Eng Seng Corporation Ltd Acquires Grange Properties Pte Ltd


Monday, 15 Oct 2012 05:30am EDT 

Chip Eng Seng Corporation Ltd announced that the Company’s wholly owned subsidiary, CEL Development Pte. Ltd. has increased its shareholding in Grange Properties Pte. Ltd. (GP) from 25% to 100%. GP was 25:75 owned by CEL and Asdew Acquisitions Pte Ltd (AA) respectively, to jointly develop a residential development, Grange Infinite, located at No. 27 and 29 Grange Road. The development of Grange Infinite was completed in 2011 and all units had been sold. Pursuant to a Sale and Purchase Agreement dated October 3, 2012, AA sold to CEL, all its entire 5,052,954 issued and paid up share capital of GP at a consideration of $14,850,000. 

Company Quote

0.795
-0.0050 -0.63%
11 Jul 2014