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Daily Debrief: What Happened Today
Listings of real estate investment trusts (Reits) and business trusts (BTs) will continue to dominate the initial public offers (IPO) on the Singapore Exchange (SGX), according to a PwC report.
City Towers, a freehold property along Bukit Timah Road, will be launched for collective sale at an owners' reserve price of S$355 million. This represents the owners' fourth attempt at a collective sale.
Sixth Avenue Centre, a freehold mixed-use development in Bukit Timah Road, is being put up for sale. The collective sale has an indicative guide price of S$90.5 million or land rate of S$2,022 per sq ft per plot ratio (psf ppr), factoring a development charge of approximately S$526,000.
The S$1.02-a-share cash offer of Chinese shipping company Cosco Shipping International (Singapore) for Cogent Holdings has become unconditional with the offeror having received valid acceptances representing about 92.05 per cent of the total number of shares.
Contract manufacturer Venture Corporation is scheduled to join the Straits Times Index (STI) with effect from Jan 5, replacing Global Logistic Properties (GLP) which is being taken private. The last trading day for GLP is expected to be on Jan 4.
Singapore-listed property developer Low Keng Huat will launch two freehold landed projects in the landed residence enclave of Lorong Kismis and Eng Kong Park off Upper Bukit Timah Road this Friday. One is Kismis Residences, a 31-unit freehold landed development; the other is the adjacent seven-unit freehold strata landed development, Tranquilia@Kismis.
A 32.5 per cent joint venture of Midas Holdings has clinched 2.68 billion Chinese yuan (S$547.9 million) of metro train car supply contracts in China. The contracts were awarded to CRRC Nanjing Puzhen Rail Transport Co, a maker of trains, bogies and related parts.
The STI Today
Share prices in the Singapore bourse rose with the benchmark Straits Times Index finishing 34 points or nearly one per cent up at 3,464.28 on Wednesday.