Raffles Hotel won’t be sold after all
Consortium that inked in-principle deal declines to say why sale fell through A PLAN to sell the historic Raffles Hotel again has fallen through. The Business Times (BT) yesterday reported that a consortium led by former Credit Suisse banker Mark Pawley, which had inked an in-principle deal to buy the hotel earlier this month, was … Read more
$17m widening of CTE to begin on Monday
1st phase to last till end-2009, but delays to traffic will be minimal WORK will begin on Monday to widen the Central Expressway (CTE), but officials say the construction will cause minimal delays on Singapore’s busiest thoroughfare. The Land Transport Authority (LTA) will add a fourth lane on both sides of a 1.5km stretch between … Read more
Singapore’s sovereign credit rating remains stable
International ratings agency, Moody’s, said it has no immediate plans to review its sovereign credit rating for Singapore as the country has strong credit fundamentals, including robust external assets. Singapore has the highest triple-A sovereign rating from Moody’s, and this is likely to remain so for the next 12 to 18 months. Last year, Moody’s … Read more
Evergro to raise $170m through rights issue
EVERGRO Properties, a subsidiary of Keppel Land, plans to raise about $170 million through a renounceable rights issue. Evergro also intends to carry out a capital reduction exercise to write off accumulated losses of $36.5 million. The fund-raising involves the offer of 761.8 million new shares on the basis of three rights shares for every … Read more
