Corporate digest

Lian Beng

CONSTRUCTION group Lian Beng has agreed to sell its recently accumulated substantial stake in media storage products seller Datapulse Technology for about S$7.59 million in cash to Datapulse's executive deputy chairman and chief executive officer Ng Cheow Chye, it said in a Singapore Exchange (SGX) filing on Thursday.

The sum that it will get for those shares appears to be significantly above their market value based on Datapulse's last closing price, though it is unclear what Lian Beng bought them for.