SGX RegCo queries DLF on offeror's intent

Singapore

THE Singapore Exchange Regulation (SGX RegCo) on Thursday asked DLF Holdings to disclose, among other things, the rationale and intent of QRC Pte Ltd's offer and the relationships between the offeror, the group and its directors, key management and associates, if any.

This followed QRC's purchase of a 57.16 per cent stake in the mechanical and electrical engineering services provider earlier this month, from Wong Ming Kwong, the controlling shareholder, former CEO and former executive director, as well as Fan Chee Seng, controlling shareholder, executive chairman and executive director of the company.