ESR REIT & ARA Logos Plan $1bn Merger
Singapore-based ESR-REIT and ARA Logos Logistics Trust have proposed a S$1.4bn ($1bn) merger that involves ESR acquiring all of ARA Logos’ units in exchange for cash and new units. The transaction will be effected by way of a trust scheme of arrangement with a...
CapitaLand Buys Chinese Logistics Centers for $261mn
CapitaLand China Trust (CLCT) is set to buy four logistics centers in China for RMB 1.68bn ($261mn). The centers in Shanghai, Kunshan, Wuhan and Chengdu will be the company’s first foray into China’s logistics sector as per the company. This investment...
SPH Rebounds with $92.9mn in Net Profits in 2021
Singapore Press Holdings (SPH) swung back to profitability for the financial year ended August 2021, reporting a net profit of S$92.9mn ($68mn). This comes after SPH reported its first ever full year loss last year, as per Straits Times. Key highlights from its...
Singtel to Sell Stake in Aussie Tower Assets for $1.4bn
State-owned Singapore Telecommunications (Singtel) announced last Friday that it has sold a 70% stake in its Australian tower network to superannuation fund AustraliaSuper for A$1.9bn ($1.4bn). Singtel plans to use proceeds from the sale to fund a 5G rollout and for...
