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Cairnhill Mansions collective sale committee to apply to High Court for sale order

CAIRNHILL Mansions' collective sale committee (CSC) will apply to the High Court for a sale order, the purchaser Low Keng Huat (Singapore) said in a Singapore Exchange (SGX) filing on Tuesday evening.

The Business Times had reported on Tuesday that a stop order had been issued by the Strata Titles Board (STB) on July 2, after mediations with one owner over the method of apportionment had not led her to withdraw her objection to the collective sale.

The CSC will have 14 days from the stop order's issuance to do so.

The contractual agreement is that owners of Cairnhill Mansions have five months from the date of the stop order to obtain the sale order from the High Court, Low Keng Huat added. This confirms BT's reporting.

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In February, Low Keng Huat had bought Cairnhill Mansions at 69 Cairnhill Road for S$362 million, and in June, it also purchased the adjacent 67 Cairnhill Road for S$100 million from its registered proprietor.None of the company’s directors or controlling shareholders has any interest, direct or indirect, in the proposed acquisition of Cairnhill Mansions.

Low Keng Huat shares closed one Singapore cent higher at S$0.62 on Tuesday, before the announcement was made.