Rosy Yu Lo Si, the wife of Lafe Corporation’s Chairman Christopher Ho Wing-On, plans to buy five residential units at Residences @ Emerald Hill, according to media reports.
In line with this, the Singapore-listed company will hold a special general meeting on 5 December, wherein it will seek the shareholders’ approval.
Situated in 119 Emerald Hill Road, the four properties involved in the deal are units #07-02, #09-02, #10-02 and #11-02. Each could be sold for $3.32 million, after deducting a seven percent discount from their option sale price of $3.56 million.
At the same meeting, the company will also seek the stakeholders’ nod for the sale of a fifth property in the same development to Madam Yu, namely unit #08-03. Last December, Lafe revealed it would sell the unit to her for $4.99 million, after including a 2.5 percent rebate from its original price of $5.12 million.
Lafe Corporation announced its board and audit committee have reviewed and approved the proposed transactions, deeming them fair and reasonable and non-prejudicial to the interests of the company and its minority stockholders.
Muneerah Bee, Senior Journalist at PropertyGuru, edited this story. To contact her about this or other stories email muneerah@propertyguru.com.sg
