Corporate digest

Lum Chang Holdings

THE mainboard-listed builder's 70 per cent-owned subsidiary, UK Property Investment, has sold a freehold London office building for £54.8 million (S$98.7 million) in cash. Lum Chang said it used the funds to repay an existing loan of £29.9 million secured against the property.

The company is expected to recognise an estimated net gain after tax of about £500,000.