KLW to acquire stake in Mega Sun for 85m yuan

Singapore

LISTED door manufacturer and investment holdings company KLW Holdings has entered into a sale-and-purchase agreement with Prosperity Real Estate Holdings to acquire a 45.45 per cent stake in Mega Sun Development for 85 million yuan (S$17.7 million).

Mega Sun holds a 55 per cent equity interest in China-based Suzhou Jiaxin Real Estate Development Company Limited, which is developing Fu Yuan Luxury Villas in Suzhou; the property features 51 luxurious villa units and will be targeted at the upper income market.