Corporate digest
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.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Stocks to watch: Singtel, Venture Corp, ARA H-Trust, YHI International, LHN
Optus names National Broadband Network’s Stephen Rue as incoming chief
More than 90% of stablecoin transactions aren’t from real users, study finds
RBA to keep key rate at 12-year high as inflation stirs anew
Buffett praised Apple after trimming it, drops Paramount stake
Westpac net profit falls 16%, announces additional A$1 billion buyback