Top HK developer Sun Hung Kai’s board ousts chairman
The board of Hong Kong’s top developer, Sun Hung Kai Properties, ousted company chairman Walter Kwok on Tuesday as a family power struggle convulsed one of the city’s most respected blue-chip firms. Mr Kwok, who has taken a leave of absence since Feb 18, has accused younger brothers Thomas and Raymond of trying to have … Read more
Parkway Life REIT investing in two nursing homes in Japan
Parkway Trust Management , the manager of Parkway Life Real Estate Investment Trust, is investing in two nursing homes in Japan for some S$34m. One of the homes is located in Yokohama City, Kanagawa Prefecture and the other is in Ibaraki City, Osaka. The vendor of both properties is nursing home operator ZECS Community Co. … Read more
PUB clears river sludge along Robertson Quay
The air along Robertson Quay has finally been cleared. And the source of the offending stench a 1m-thick layer of sludge lining the bed of the Singapore River has been removed, giving the area a breath of fresh air. The years of muck that lined a 50m stretch of riverbed could have been due to … Read more
Govt agencies asked to tighten CBD space usage
New exercise targets efficient use to free up more space for private sector GOVERNMENT agencies in the Central Business District have been told to re-evaluate their office space needs in light of the current office space crunch, even if these agencies own their buildings. It is understood that the Ministry of Finance (MOF), which oversees … Read more
One-North: A place for a meeting of minds
one-north, encompassing Biopolis and Fusionopolis, is Singapore’s icon of the knowledge economy THERE I was, standing in the middle of a gleaming complex of buildings, with blocks bearing names like Chromos, Proteos, Genome and Matrix. I was, of course, at Biopolis, conceived to put Singapore on the global map of the biomedical sciences industry. Biopolis … Read more
Katong Mall on sale for up to $250m – amid controversy
Public tender comes after a contentious collective sale approval last year ONE of the landmarks of the east, Katong Mall, was put up for sale yesterday at an indicative price of $220 million to $250 million – amid some controversy. The 99-year leasehold property comprises strata-titled commercial units used as shops and other businesses. But … Read more
Katong Mall up for sale with $220m-$250m tag
KATONG Mall has been put up for collective sale at the indicative price of $220 million to $250 million. Katong Mall: The 78,158 sq ft site could yield up to 100 residential and 185 commercial/retail units The 78,158 sq ft site is zoned for commercial use and has a plot ratio of up to 3.6. … Read more
Developer joins bid for Shaw Brothers
Yeung Kwok-keung has HK$3b loan from chairman of Henderson Land A GUESSING game over who will bid for Run Run Shaw’s flagship Shaw Brothers intensified over the weekend as a property developer emerged as a prime contender. Businessman Yeung Kwok-keung has received HK$3 billion (S$523.2 million) in financing from Henderson Land Development chairman Lee Shau-kee … Read more
Inflation will ease in second half of year
SURGING inflation will ease in the second half of the year despite spikes in global food and oil prices, said Trade and Industry Minister Lim Hng Kiang. He was responding to a question from Non-Constituency MP Sylvia Lim yesterday on the inflation outlook for this year. Mr Lim said: ‘It is still our central scenario … Read more
Asian economies swap one dependency for another?
The growth/inflation equation is changing for the whole region The Asian economy has shown a remarkable immunity to slowing US growth, so it would be richly ironic if the region were to trip up now over a byproduct of its resilience – sky-high oil and commodity prices. A long period of turbo- charged growth, led … Read more
