Lee Yeow Seng of IOI Properties Group to buy Shenton House for S$538m

• The purchase price of S$538 million (RM1.87 billion) is equivalent to the reserve price, which was reduced from S$590 million when the collective sale was relaunched on Oct 20.

SINGAPORE (Nov 1): Shenton 101, a private company owned by Lee Yeow Seng, the chief executive officer and major shareholder of Bursa Malaysia-listed IOI Properties Group Bhd, emerged as the sole bidder for Shenton House at the close of the collective sale tender at 3pm on Wednesday.

JLL is the marketing agent for Shenton House.

The purchase price of S$538 million (RM1.87 billion) is equivalent to the reserve price, which was reduced from S$590 million when the collective sale was relaunched on Oct 20. (click here for the full story on theedgesingapore.com)

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