Shareholders raise queries over acquisition of Thye Hong Centre by Lian Beng's unit

Singapore

THE acquisition of Thye Hong Centre by Lian Beng's subsidiary SLB Development has raised questions over whether the move was an indicator that the group will be able to resume distributing dividends going forward.

No final dividend was declared by Lian Beng for its FY20 ended May 31 "so as to retain funds for working capital requirements of the group in view of the uncertainty due to the Covid-19 pandemic", said the group in its financial statements.

In response to shareholders' queries ahead of its annual general meeting, Lian Beng said: "We will consider resuming dividend distribution when our operations generate a comfortable amoun…

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