Extended deadline for Lian Beng to sell assets that compete with its unit SLB
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Tay Peck Gek
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Singapore
CATALIST property player SLB Development has obtained regulatory approval for its controlling shareholder Lian Beng Group to be given a one-year extension to dispose of competing business in Australia and Singapore.
SLB in a regulatory filing on Thursday announced that unfavourable property market conditions Down Under and in the city-state have resulted in its parent company, Lian Beng, not being able to divest competing business by April this year. The deadline was a year from SLB's Catalist debut in April 2018.
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