Tiong Choon Holdings Pte Ltd acquired remaining 25% stake in First Balmoral Development Pte Ltd from Noel Gifts International Ltd. (SGX:543) for SGD 3.4 million in cash on October 3, 2014. Noel Gifts will use sale proceeds for investment opportunities abd for distribution to shareholders.

Tiong Choon Holdings Pte Ltd completed the acquisition of remaining 25% stake in First Balmoral Development Pte Ltd from Noel Gifts International Ltd. (SGX:543) on October 3, 2014.