IN JUNE 1992, Allied Group subsidiary Santai sells 55 per cent of Paramount Printing for $161 million to Seapower International.
A news bulletin announces on August 12 that 10 stocks listed on the Stock Exchange and linked to Lee Ming Tee and his Allied Group of companies have been suspended.
A few days later, Financial Secretary Hamish Macleod appoints an inspector to investigate deals at five of Mr Lee's group of companies.
In September, Mr Lee announces a deal with Lippo to sell his 33.35 per cent stake for $502 million or $2.60 per share.
Tung Wing Steel is unloaded in October through the sale of a 76.76 per cent share for $239 million. Wormald, then a Lee subsidiary, buys Tung Wing Steel after an aborted listing attempt, for $156 million.
In mid-November, Allied announces the sell-down of 15.8 per cent of Santai, in a placement of new shares to the buyer at $2 a share.
In late November, Mr Lee announces the sale of Guardforce for $395 million.
