Corporate digest
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
Ascott Residence Trust
ASCOTT Residence Trust (Ascott Reit) has entered into two conditional sale-and-purchase agreements through its two wholly owned subsidiaries - Biyun Investments (Hong Kong) and Gaoxin Investments (Hong Kong) - to divest two serviced residence properties in China for 980 million yuan (S$199 million) to an unrelated third party.
The agreed aggregate value of the two properties - Citadines Biyun Shanghai and Citadines Gaoxin Xi'an - was adjusted for bank loans and entrustment loans owed by the properties' holding companies, as well as their net current asset value at the completion date of the sale.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
20 photos that show how dramatically Singapore has changed in two decades
Singapore’s key exports up 15.3% in March from electronics surge, exceeding forecasts
