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ETC Singapore ends dispute with controlling shareholder via multi-point deal

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Published Thu, Jan 18, 2018 · 09:50 PM

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Singapore

CATALIST-listed Emerging Towns & Cities Singapore (ETC Singapore) has entered into a settlement deed with controlling shareholder Luo Shandong to clear all disputes and claims between them.

ETC has agreed to discontinue its lawsuits in Singapore and China against Mr Luo. These relate to his unauthorised withdrawals of RMB118 million (S$23.8 million) from funds held by Huizhou Daya Bay Mei Tai Cheng Property Development last year.

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