Raymond Lum and David Lum – Lum Chang’s directors and controlling shareholders who together control 41% of the group via direct and indirect interests – also collectively hold 30% indirect interests in UKPI through Lum Chang Investments and Bevrian, respectively.
SINGAPORE (Mar 11): Construction and property development group Lum Chang Holdings announced Wednesday it has divested 100% of its interests in a trust holding an office building at 130 Wood Street in London, UK, for a net cash consideration of £54.8 million ($98.7 million).
The purchasers are two special purpose vehicles wholly-owned by UK Property Investment (UKPI), a joint venture company that is 70% owned by Lum Chang.
