Daily Debrief: What Happened Today

Reits, business trusts to continue to drive IPOs on SGX: PwC report

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 in Bukit Timah launches en bloc tender with S$355m reserve price

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 up for 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.

Cosco cash offer for Cogent turns unconditional

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.

Venture Corp to join STI from Jan 5, replacing GLP

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.

Low Keng Huat to launch 2 freehold landed projects off Upper Bukit Timah Road on Friday

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.

Midas unit clinches 2.68b yuan of contracts to supply metro train cars

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

Singapore shares close 1% higher

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.