Lian Beng

Lian Beng: 67% owned subsi is disposing its 15% stake and sh/h loans in Emerald Land for $17m to Pallas 28 Invt. No profit or loss will be made on the disposal after accounting for earlier loss provisions. Sale of the units in 111 Emerald Hill by Emerald Land is slow and co views this as a divestment opportunity. However, proceeds of $10.6m will be used to purchse 2 units at Emerald Hill for long-term investment and the remaining $6.4m will be used to repay sh/h loans.