Extended deadline for Lian Beng to sell assets that compete with its unit SLB

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.