City Dev

City Dev: Clarifies article “CDL to sell huge Kranji industrial plot for $240m" in Business Times. Sale of land is a joint sale with subsi of Hong Leong Invt not City Dev alone. Of the $240m $150.8m is payable to Hong Leong's subsi and $89.2m to City Dev's subsi, both which are wholly owned. The completion of sale is scheduled on the 31 Oct 2012.