Chip Eng Seng’s Celine Tang considering possible transaction involving shares

PROPERTY developer Chip Eng Seng on Wednesday (Sep 7) said that Celine Tang, its non-executive chairman and non-independent and non-executive director, is considering a possible transaction involving the group’s shares.

However, there is no certainty that any possible transaction will materialise at this juncture, Chip Eng Seng noted in a bourse filing.

Tang, who is also group managing director of property player SingHaiyi and non-executive chairman at OKH Global, became Chip Eng Seng’s chairman in 2018 after becoming its largest shareholder. She is also the wife of Singapore property tycoon Gordon Tang.

Last month, Chip Eng Seng posted a sharp increase in net profit for the 6 months ended June 2022, amid a rise in revenue. Net profit jumped to S$38.5 million for the period, from S$99,000 in H1 2021.

Chip Eng Seng closed 5.2 per cent or S$0.035 higher at S$0.71 on Wednesday, before the announcement.