Chip Eng Seng unit to acquire minority interest in Shenton Way property for S$2.1m

Singapore

PROPERTY player Chip Eng Seng Corporation is planning to acquire a minority stake in a property located at 8 Shenton Way, also known as AXA Tower, for S$2.1 million.

Its wholly-owned subsidiary CEL Shenton has entered into a share purchase agreement with the sellers to acquire 21 per cent of the issued share capital of PRE 13, which has an effective interest of 50 per cent of the property.