LC Dev: Co to sell 50% interest in LC Airport which owns Crowne Plaza Changi Airport. This was triggered by co’s partner Runway selling its own 50% interest in LC Airport…
According to an agreement, Runway has the right to cause LC Dev to sell the remaining interest at the same price and conditions to the buyer which Runaway has exercised. Lum Chang owns an est 10.1% stake in co but co has been loss-making since FY09 and currently trades at 0.7x P/B
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