The Business Times
business-time-50
SINGAPORE PROPERTY
·
SUBSCRIBERS

Indonesian tycoon Sukanto Tanoto’s eldest son buying Singapore retail assets: sources

Private vehicle linked to Andre Tanoto said to have picked up Lian Beng’s four big HDB units, is in due diligence for i12 Katong and batch of 11 retail units put on the market by Mercatus

Summarise
google-preferred-sourceAdd BT as a preferred source
Kalpana Rashiwala

Kalpana Rashiwala

Published Thu, Jan 15, 2026 · 09:33 PM
阅读简体中文版 (beta)
    • Altallo has been doing due diligence on the i12 Katong mall, at the corner of East Coast and Joo Chiat roads.
    • One of the four big-format retail units sold by Lian Beng is a 23,960 sq ft space at 192 Toa Payoh Lorong 4.
    • Altallo has been doing due diligence on the i12 Katong mall, at the corner of East Coast and Joo Chiat roads. PHOTO: BT FILE
    • One of the four big-format retail units sold by Lian Beng is a 23,960 sq ft space at 192 Toa Payoh Lorong 4. PHOTO: BT FILE

    [SINGAPORE] A new private investment vehicle said to be backed by Andre Tanoto has been quietly acquiring retail assets in recent months.

    The vehicle, associated with Altallo Asset Management, is said to have completed in December the purchase of four large-format Housing & Development Board (HDB) retail units in Bukit Merah Central and near the Toa Payoh, Ang Mo Kio and Clementi MRT stations. The total price is said to be in the S$160 million-plus range.

    The units were sold by Lian Beng Group, which acquired them at S$151 million in 2016.

    Singapore propertyHDBSingapore retail

    TRENDING NOW

    Longest-serving chief minister Taib Mahmud’s legacy looms large over Sarawak as a family feud over his estate threatens to expose skeleton’s in the eastern state’s political closet.

    On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart

    The bank on Tuesday priced 500 million euros (S$746.9 million) worth of fixed rate covered bonds due in 2029.

    Stocks to watch: OCBC, OUE, SIA Engineering Company, OUE Reit

    ​OCBC head of global consumer financial services Sunny Quek says: “All of us (financial institutions) have a wealth strategy. What’s really going to differentiate one bank from another is the execution."

    OCBC consumer banking chief Sunny Quek aims to double wealth business by 2029

    UBS' Young Jin Yee (left) and Conrad Huber present the Global Next Generation Report, which surveyed more than 170 next-generation wealth holders globally.

    Asia’s wealthy families shed taboo on succession planning as US$83 trillion changes hands: UBS

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More