Ng Fung Hong sale nets $5.3m

PUBLISHED : Friday, 27 June, 1997, 12:00am
UPDATED : Friday, 27 June, 1997, 12:00am

Red chip Ng Fung Hong says its 50.4 per cent-owned subsidiary has realised a gain of $5.3 million by selling an office property to its substantial shareholder Ng Fung Hong (Holdings) for a sum of $9.2 million. The transaction was completed in April, Ng Fung Hong said yesterday. The company said it only disclosed details of the transaction due to an 'oversight'.