Tiong Seng

Tiong Seng: Announced that its subsidiary, Yuan Ching Dev has taken a 30% stake in Feature (Balmoral). Feature is a consortium comprising the Tong Eng Group, Clarus Corp and Yuan Ching, which has entered into a collective sale agreement to purchase 16 Balmoral Road, Balmoral Cond for $141m. Subject to approval, Feature will redevelop the Balmoral site. Investment was funded by internal resources and will not have any material effect on the EPS and NTA of Co. for FY11.