Wing Tai Director’s children buy four units at River Green development

Sale prices range from $1.96m to $2.0m per unit.

Wing Tai Holdings has announced that its subsidiary, Winchamp Investment Pte. Ltd., has granted options to purchase four units at its River Green residential development to family members of director Cheng Wai Keung.

Two units were purchased by his son, Kelvin Cheng Zen Tak, as trustee on behalf of beneficiaries. These comprise unit #05-09 at 11 River Valley Green for $1,963,000 and unit #06-09 at the same address for $1,974,000.

Two units were also purchased by his daughter, Carol Cheng Kar Yee, as trustee on behalf of beneficiaries. These comprise unit #07-09 for $1,985,000 and unit #08-09 for $2,000,000.

The company confirmed that no discounts were given for any of the transactions.

The Audit and Risk Committee reviewed the sales and determined that the terms were fair, reasonable, and not prejudicial to the interests of the company or its minority shareholders.

The board of directors approved the sales, with Cheng Wai Keung and related parties abstaining from the decision.

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