Common Contracts

HOTEL ROYAL LIMITED

April 4th, 2014

• Filed
  April 4th, 2014

Further to the announcements made on 21 January 2010 and 28 January 2010 that Hotel Royal Limited (the “Company”) had entered into an Agreement with Melodies Limited (“Melodies”) whereby both parties agreed to jointly re-develop the land of Star Mansions, now known as Royal Residences, located at Lot 794C and 795M, TS 28, 1A Surrey Road, Singapore (the “Land” or “Property”) into a residential development comprising 11 apartment units (the “Proposed Transaction”). Dr Lee Keng Thon, Mr Lee Khin Tien and Lee Kin Hong are directors of the Company and Melodies, and 83.4% of issued share capital of Melodies is held by Aik Siew Tong Limited. Aik Siew Tong Limited is a company incorporated in Singapore and is 100% held by Dr Lee Keng Thon, Mr Lee Khin Tien, Mr Lee Kin Hong (all three are directors of the Company) and their family members.