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Article: Tan sells Aussie building for A$100m
- Article from:
- The Malay Mail
- Article date:
- July 9, 2004
- Author:
CopyrightCopyright 2004 The Malay Mail. Provided by ProQuest LLC. (Hide copyright information)
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TAN Sri Robert Tan Hua Choon is understood to have sold off his
private investment in Santos House, a 32-level tower building in King
William Street in Adelaide for A$100 million (A$1 = RM2.73).
The sale comes nearly two weeks after Citadin Pty Ltd, a Perth-
registered company controlled by Malaysian and Singaporean investors,
had put up for sale Sydney's Skygarden complex it bought for A$90
million in 1997, for about A$150 million.
Mail Money understands that Tan had bought the building in 1997
for A$68.2 million when the ringgit was trading at RM1.8988 against
the Australian dollar. The ringgit is now trading at about RM2.7391
against the Australian dollar.
At the time of the purchase, it ...