Sinarmas Land signs non-binding agreement to participate in KaiLong China Reit
SINARMAS Land (SML) said it has been invited by KaiLong Holdings Limited (KLR) to participate in the proposed listing and offering of units in KaiLong China Real Estate Investment Trust, a Reit to be set up here and listed on the Singapore Exchange.
SML on Sunday entered into a non-binding heads of terms with KLR for SML to participate in a strategic stake in KaiLong China Reit as well as its manager and property manager.
KLR, a company incorporated in the Cayman Islands, has proposed to set up KaiLong China Reit with an initial portfolio of seven business space properties in Shanghai and one office building in Chengdu in China. KLR will be the sponsor of KaiLong China Reit.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Higher gross rental income, lower expenses boost CICT’s Q1 NPI by 6.3% to S$293.7 million
Stocks to watch: CICT, Seatrium, Keppel DC Reit, UOB
Keppel DC Reit reports 13.7% lower Q1 DPU of S$0.02192
Netflix handily beats subscriber targets, misses on revenue forecast
Meta releases early versions of its Llama 3 AI model
Seatrium unit ordered to pay US$108 million in arbitration over equipment supply contracts