Stamford Land and Mano Sabnani reach 'amicable settlement'

Singapore

THE directors of Stamford Land have arrived at an "amicable settlement" with minority shareholder Mano Sabnani, whom the company had earlier sued for alleged defamation, they said on Saturday.

Mr Sabnani, who filed his defence one week ago maintaining that the statements he had made about Stamford Land's corporate governance and investor relations were justified and not defamatory, has since agreed to retract his comments.