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Chittering Estate Finally Sold

LC Development Ltd, the property arm of Lum Chang Holdings has paid A$2.15 million for the 208 acre Chittering Estate vineyard and winery north of Perth. 25% is retained by Jendami Pty Ltd, an Australian incorporated company which will manage the business for an annual fee of A$50,000. The vineyard cost A$900,000 while the winery business cost A$1.25 million. Chittering Estate’s sales in fiscal year 1996 were about S$970,000.

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