Gordon and Celine Tang, the couple controlling property developer SingHaiyi Group, on Aug 19 acquired 3.73 million shares through a married deal for $264,830, which works out to an average of 7.1 cents per share.

In another earlier married deal, the Tangs had acquired over 44.9 million shares for $3.24 million, or an average price of 7.26 cents per share. They now hold a total of nearly 2.71 billion shares, equivalent to a stake of 64.33%, up from 64.24% previously.

On June 23, SingHaiyi reported earnings of $4.9 million for the half year ended March, down 64.1% y-o-y. Revenue in the period was up 72.4% y-o-y to $44.2 million, as the company recognised more revenue from its projects such as Parc Clematis and The Gazania.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook