Two children of Wing Tai chairman granted options to buy four River Green units for $7.9 million
A model of River Green, the condominium for which Kelvin Chang and Carol Cheng were granted options to purchase units.
SINGAPORE - Wing Tai Holdings has granted options to purchase four units in the River Green condominium to two children of its managing director and chairman Cheng Wai Keung, for a total of $7.9 million.
The project, located at River Valley, is developed by Wing Tai.
Options to buy two units were issued to Cheng's son Kelvin Cheng Zen Tak, priced at $1.963 million for a fifth-floor unit and $1.974 million for a sixth-floor one, the company disclosed in a bourse filing on Aug 20.
Another two options were granted to his daughter Carol Cheng Kar Yee, for seventh and eighth-storey units priced at $1.985 million and $2 million, respectively.
All four units are in the same stack. Both children are trustees on behalf of beneficiaries; neither was given any discounts, Wing Tai said.
The sales have been reviewed by the company's audit and risk committee and its board, with Cheng Wai Keung and two family members – Edmund Cheng and Cheng Man Tak – abstaining.
The board and audit and risk committee is satisfied that the sales 'are not prejudicial to the interests of the company and its minority shareholders', said Wing Tai. The committee has also determined that the number and terms of the sales are fair and reasonable.
Top stories
Swipe. Select. Stay informed.
World Israel says it has taken first steps of military operation in Gaza City
Singapore 3 Sengkang Green Primary pupils suspended for bullying classmate, with 1 of them caned: MOE
Singapore 18 persons nabbed and 82 vapes seized in HSA ops in Raffles Place and Haji Lane
Business Chinese brands like Pop Mart, BYD, Joocyee expanding into S'pore as gateway to Asean market
Life Why should we bear the burden of budget meals and app discounts, some S'pore hawkers ask
Singapore Religion growing in importance for Singaporeans: IPS study
Asia 'Disastrous, useless': New Zealand to overhaul high school qualification to lift falling standards
World Google unveils latest Pixel 10 phones packed with AI
River Green has seen strong demand, with 88 per cent of its 524 units sold at launch on Aug 3. Prices for the units averaged $3,130 per square foot, and some 98 per cent of buyers were Singaporeans and permanent residents.
Its performance exceeded that of Upperhouse at Orchard Boulevard, which sold 54 per cent of its 301 units at its launch two weeks earlier. Another River Valley development, The Robertson Opus, moved 41 per cent of its 348 units in the same weekend.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Straits Times
34 minutes ago
- Straits Times
US issues sanctions on networks, vessels for dealing in Iran oil
Sign up now: Get ST's newsletters delivered to your inbox FILE PHOTO: U.S. and Iran flags are seen in this illustration taken June 18, 2025. REUTERS/Dado Ruvic/Illustration/File photo WASHINGTON - The Trump administration on Thursday issued more Iran-related sanctions, targeting 13 entities based in Hong Kong, China, the United Arab Emirates and the Marshall Islands, as well as eight vessels, the U.S. Treasury Department said. The measures cover Greek national Antonios Margaritis and his network of companies and vessels that Treasury said was involved in transporting Iranian oil exports in violation of sanctions. Treasury also designated Ares Shipping Limited in Hong Kong, Comford Management in the Marshall Islands and Hong Kong Hangshun Shipping Limited in Hong Kong. Designated crude oil tankers include Panama-flagged vessels Adeline G and Kongm, and Lafit under the flag of Sao Tome and Principe. The State Department separately said it imposed sanctions on two China-based operators of oil-related terminals and storage. It said they handled imports of Iranian oil aboard tankers previously targeted by U.S. sanctions. The firms were identified as Qingdao Port Haiye Dongjiakou Oil Products Co in Shandong province and Yangshan Shengang International Petroleum Storage and Transportation Co in Zhejiang province. Iran suspended talks with Washington aimed at curbing the Islamic Republic's nuclear ambitions after the U.S. and Israel struck its nuclear sites in June. Iran denies any intent to develop atomic bombs. Top stories Swipe. Select. Stay informed. Singapore Courier tip-off leads to HSA seizure of Kpods, drugs in Tampines and Grange Road raids Singapore Large flocks of parakeets a spectacle in Choa Chu Kang, but they may affect native species Singapore Singapore students shine in Paris with record medal haul at history Olympiad Singapore Teacher charged over allegedly making student undress in video call, sending her his nude photo Singapore Painting by police NSF presented to Shanmugam to commemorate 50 years of Police National Service Business 8 more active ETFs by JPMorgan Asset Management available to Singapore investors Business Changi Travel Services cuts 30 staff amid market shifts Asia HK water scandal: How distrust over China bottled water sparked a probe into govt contract Iran's top diplomat said on Wednesday that the moment for "effective" nuclear talks with the United States has not yet arrived, adding that Iran would not completely cut off cooperation with the U.N. nuclear watchdog. REUTERS
Straits Times
an hour ago
- Straits Times
US issues more Iran-related sanctions
Sign up now: Get ST's newsletters delivered to your inbox FILE PHOTO: U.S. and Iran flags are seen in this illustration taken June 18, 2025. REUTERS/Dado Ruvic/Illustration/File photo WASHINGTON - The Trump administration on Thursday issued more Iran-related sanctions, targeting 13 entities based in Hong Kong, China, the United Arab Emirates and the Marshall Islands, as well as eight vessels, the U.S. Treasury Department said. The measures cover Greek national Antonios Margaritis and his network of companies and vessels that Treasury said was involved in transporting Iranian oil exports in violation of sanctions. Treasury also designated Ares Shipping Limited in Hong Kong, Comford Management in the Marshall Islands and Hong Kong Hangshun Shipping Limited in Hong Kong. Designated crude oil tankers include Panama-flagged vessels Adeline G and Kongm, and Lafit under the flag of Sao Tome and Principe. The State Department separately said it imposed sanctions on two China-based operators of oil-related terminals and storage. It said they handled imports of Iranian oil aboard tankers previously targeted by U.S. sanctions. Iran suspended talks with Washington aimed at curbing the Islamic Republic's nuclear ambitions after the U.S. and Israel struck its nuclear sites in June. Iran denies any intent to develop atomic bombs. Iran's top diplomat said on Wednesday that the moment for "effective" nuclear talks with the United States has not yet arrived, adding that Iran would not completely cut off cooperation with the U.N. nuclear watchdog. REUTERS
Straits Times
3 hours ago
- Straits Times
Serena Williams to promote weight-loss drugs with telehealth firm Ro
Sign up now: Get ST's newsletters delivered to your inbox FILE PHOTO: Sep 2, 2022; Flushing, NY, USA; Serena Williams of the United States hits to Ajla Tomljanovic of Australia on day five of the 2022 U.S. Open tennis tournament at USTA Billie Jean King Tennis Center. Mandatory Credit: Danielle Parhizkaran-USA TODAY Sports/File Photo Telehealth company Ro has tapped tennis star Serena Williams as a celebrity patient ambassador for its weight-loss treatments, the company said Thursday. The 23-time Grand Slam champion, who retired from professional tennis in 2022, will headline a multi-year national marketing campaign for GLP-1 drugs, a company spokesperson said. "I don't take shortcuts," Williams said in an NBC News interview, adding that her efforts to lose weight before turning to GLP-1 treatments included professional tennis training. "I was doing everything right ... but my body wasn't responding the way it used to," she said. Williams said in an advertisement that after struggling to lose post-baby weight, the treatments helped her lose 31 pounds (14 kg) - her first time speaking out about using them, Ro said. "Serena knows people may be surprised to learn that she would use a GLP-1, and that's exactly why we think she is the perfect person to share her story," said a Ro spokesperson. Ro said Williams' husband Alexis Ohanian, the co-founder of social media site Reddit, is an investor in the company and serves on its board. Top stories Swipe. Select. Stay informed. Singapore Courier tip-off leads to HSA seizure of Kpods, drugs in Tampines and Grange Road raids Singapore Large flocks of parakeets a spectacle in Choa Chu Kang, but they may affect native species Singapore Singapore students shine in Paris with record medal haul at history Olympiad Singapore Teacher charged over allegedly making student undress in video call, sending her his nude photo Singapore Painting by police NSF presented to Shanmugam to commemorate 50 years of Police National Service Business 8 more active ETFs by JPMorgan Asset Management available to Singapore investors Business Changi Travel Services cuts 30 staff amid market shifts Asia HK water scandal: How distrust over China bottled water sparked a probe into govt contract GLP-1 drugs promote weight loss by reducing appetite and causing the stomach to empty more slowly. Novo Nordisk's Wegovy and Eli Lilly's Zepbound have been shown to reduce weight by around 20%. Ro, which sells both drugs through its weight-loss program, said Williams was on a branded GLP-1 but declined to say which one. Paul Cerro, a former Ro strategy analyst and founder of Cedar Grove Capital Management, said the deal will boost Ro's visibility and credibility in a crowded weight-loss drug market as companies push deeper into women's health. "Well known people are willing to put their name with a company that they believe is doing the right thing in the right way," said Cerro. Ro offers cash-pay access to Zepbound and Wegovy through Novo and Lilly's direct pharmacies, although eligible patients can use insurance. It sells compounded Wegovy in varying doses for patients whose clinicians deem it medically necessary. REUTERS
