Peerless purchase

A SINGAPOREAN businessman who two years ago sailed into town and bought The Sovereign Islands marina for $5.6 million has surfaced in a Mermaid Beach deal.

Ching Chiat Kwong is the chairman of the listed Oxley Holdings group, which owns 40 per cent of WA group and aspiring Peerless Ave tower developer Pindan.

A $7.65 million deal has put Pindan in control of a 1417sq m site on the northern side of Peerless, close to Hedges Ave.