Dalvey Breeze Development, a 60%-owned subsidiary of KOP, has entered into an option to purchase to sell a unit of property in its development known as Dalvey Haus on June 1.
The purchaser is Lee Yin Chuan, who is the daughter-in-law of Low Keng Huat (Singapore)’s director and executive chairman, Low Keng Boon.
Low Keng Huat (Singapore) owns LKHS Property Investment, which in turn, owns a 40% interest in Dalvey Breeze Development.
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Lee has purchased a unit on the third floor at a sale price of $16.3 million, which is the same pricing offered to the public.
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The sale transaction has been reviewed and approved by KOP’s audit and risk committee.
Shares in KOP closed 0.2 cent lower or 3.6% down at 5.4 cents on June 1.
