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Daily Debrief: What Happened Today
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More than 80 per cent of the owners at the 191,974 square feet (sq ft) development right by Jurong Lake Gardens have agreed to a reserve price of S$250 million, down from S$320 million in March, "in view of current market conditions", Huttons Asia said in a statement.
THE mixed-use site has a maximum permissible gross floor area (GFA) of 115,747 square metres (sq m), with at least 45,000 sq m of this to be set aside for office use.
IN a filing with the Singapore Exchange on Tuesday, Noble said: "This approach is intended to preserve the underlying business and operations for the benefit of its stakeholders."
THE transaction is expected to be completed in the first half of 2019, subject to approval by Indonesia's financial services authority Otoritas Jasa Keuangan and the Monetary Authority of Singapore.
FOR the fourth quarter up to Dec 11, ECM activity in Singapore amounted to US$745.5 million, a 15.4 per cent decrease from the preceding quarter and down 79.1 per cent in proceeds compared to the year-ago period.
The STI Today
SINGAPORE stocks closed lower on Tuesday, with the Straits Times Index down 0.43 per cent or 13.16 points to 3,059.28.