CapitaLand explains why it exited Asia Square negotiations
Singapore
CAPITALAND on Wednesday implied that it had earlier bowed out of negotiations to buy the Asia Square Tower 1 office building because the property did not fit with its group strategy, and its yields did not meet requirements.
At its results briefing, CapitaLand Singapore CEO Wen Khai Meng said: "Whether it's Asia Square or any (other) opportunities, when we look at them, we judge them according to two criteria: whether it fits in with our strategy, and whether the return profile of the project meets our requirements.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Porsche posts Q1 profit drop on ramp-up costs
IBM plots US$730 million expansion of Canadian semiconductor site
Seatrium unit to fully redeem S$500 million worth of floating-rate bonds early
Yeo Guat Kwang, John Chen retiring from corporate boards
US: Wall St opens higher
Air China orders homegrown C919s in challenge to jet duopoly