Li is said to be Singaporean and is an independent and unrelated third party to the company.
Shares in Mainboard-listed MYP (SGX:F86
) surged 3.2 cents or 96.97% up at 6.5 cents as at 11.36am, after news came that it has sold its St Regis Residences unit for $6.05 million.
MYP’s wholly-owned subsidiary, Grace Shine, had granted its buyer, Evan Li Ting Kuan, an option to purchase the sixth-floor unit on March 29. The option was exercised on April 5 and constitutes a binding contract for the disposal at the consideration amount.
