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Daily Debrief: What Happened Today
The Government will be launching six land parcels for sale in the second-half of this year on the Confirmed List of the Government Land Sales (GLS) Programme, including the first hotel site in several years.
The collective sale of Goodluck Garden has been met with a stop order by the Strata Titles Board, the first this year to run into such a roadblock, after a group of seven minority owners objected on the grounds of lack of good faith.
No Signboard Holdings is launching a chain of fast-food outlets that serves hawker food-themed burgers, wraps and buns, the restaurant chain announced on Wednesday before the market opened.
Catalist-listed EpiCentre Holdings could be headed for a S$400 million reverse takeover, under a memorandum of understanding inked on Wednesday. This would be done through the acquisition of the entire issued and paid-up share capital of investment holding company MacroCap Asia Capital, which owns Thai property developer Asia ThaiYuan, and Chinese hotel manager Gloria International.
CapitaLand has acquired all the shares in a company that owns a 32-hectare prime mixed-use site in Chongqing, in a move that will boost its residential pipeline in China by more than 2,100 units. The amount payable is 2.2 billion Chinese yuan (S$459 million), which includes the agreed value of the property at 5.7 billion yuan, the group said on Wednesday.
Ground engineering solutions firm Ryobi Kiso's subsidiary Ryobi Kiso (S) Pte Ltd has defaulted on its repayment obligations to "certain bank lenders" and is in breach of the corresponding banking facilities, the firm announced on Wednesday in an exchange filing.
Chasen Holdings Limited has secured S$38.4 million worth of new contracts in Asia and the US. These include S$25.2 million worth of specialist relocation services, S$3 million worth of third-party logistics, and S$10.2 million worth of technical and engineering services.
New Silkroutes Group has entered into separate memoranda of understanding to acquire 60 per cent stakes in each of six medical practices for an expected total price of S$11.7 million, the company announced on Tuesday after the market closed.
The STI Today
Singapore shares ended in negative territory, tumbling along with the rest of Asia on an escalating trade spat between China and the US. After opening at 3,281.71, the Straits Times Index (STI) closed at 3,254.77, down 26.1 points, or 0.8 per cent.