DAILY NEWS

Daily News – 25th Sep 2019

Singapore Real Estate

Six adjoining Tanjong Pagar shophouses put on market for S$57.8m
A row of six adjoining shophouses in Tanjong Pagar have been launched for sale via an expression of interest (EOI) exercise, joint marketing agents Colliers International and Jones Lang Lasalle Singapore (JLL) said on Tuesday. Located at 48 to 56 Peck Seah Street, the three pairs of two-storey conservation shophouses with attic sit on three separate land lots with a combined land area of 8,213 square feet (sq ft).
https://www.businesstimes.com.sg/real-estate/six-adjoining-tanjong-pagar-shophouses-put-on-market-for-s578m
https://www.straitstimes.com/business/property/6-adjoining-tanjong-pagar-shophouses-put-on-market-for-578m

JTC launches Tuas Bay Drive site for application
JTC on Tuesday made available a land parcel at Tuas Bay Drive for application, the fifth of six reserve list sites under the second half of the 2019 Industrial Government Land Sales (IGLS) programme. The 20-year tenure site has a gross plot ratio of 1.4, a site area of 1.2 hectares or 11,961.5 square metres, and is zoned “B2” for heavier industrial use.
https://www.businesstimes.com.sg/real-estate/jtc-launches-tuas-bay-drive-site-for-application
https://www.straitstimes.com/business/property/jtc-launches-tuas-bay-drive-site-for-application

Companies’ Brief

135m new Keppel DC Reit units start trading on Sept 25
Some 135 million new units in Keppel DC Reit (real estate investment trust) will begin trading on the Singapore bourse as at 9am on Wednesday, as part of the Reit’s S$478.2 million equity fundraising to partially pay for its proposed acquisition of two data centres. The Reit’s manager previously noted that it has raised this amount through a private placement of 135 million units at an issue price of S$1.744 per…
https://www.businesstimes.com.sg/companies-markets/135m-new-keppel-dc-reit-units-start-trading-on-sept-25

Keppel Corp to issue S$200m in notes due 2026
Keppel Corporation has priced the issue of its S$200 million notes due 2026, it said on Tuesday. The notes, which will be issued under Keppel’s US$5 billion multi-currency medium-term note programme, will bear interest at a fixed rate of 3 per cent per annum, payable semi-annually, and have a tenor of seven years.
https://www.businesstimes.com.sg/companies-markets/keppel-corp-to-issue-s200m-in-notes-due-2026

Sembcorp to bring smart energy solutions to Vietnam in tripartite pact
A Sembcorp Industries unit has entered into a tripartite partnership with Vietnam state-owned property developer Becamex IDC Corporation (Becamex) and Vietnam Singapore Industrial Park JV Co (VSIP) to bring smart energy solutions to Vietnam. VSIP is one of the largest integrated townships and industrial parks co-initiated by the Singapore and Vietnam governments, and jointly developed by Sembcorp Development…
https://www.businesstimes.com.sg/companies-markets/sembcorp-to-bring-smart-energy-solutions-to-vietnam-in-tripartite-pact-0
https://www.straitstimes.com/business/companies-markets/sembcorp-unit-in-tie-up-to-bring-smart-energy-solutions-to-vietnam

Singapore co-living platform Cove raises over US$2m in seed round, eyes regional growth
Cove, a newcomer in Singapore’s co-living sector, has secured more than US$2 million in seed funding to expand in South-east Asia and build-out its technology. The round was led by investment firms from Asia and Europe – Indonesia’s Venturra; Singapore’s Investigate and Yuj Ventures, which is backed by The Xander Group; and Germany’s Picus Capital. The lead investors were joined by Singapore venture capital…
https://www.businesstimes.com.sg/garage/singapore-co-living-platform-cove-raises-over-us2m-in-seed-round-eyes-regional-growth

Kimly to acquire coffeeshop property at Teck Whye for S$14m
Catalist-listed Kimly announced on Tuesday that it plans to acquire a coffeeshop property in north-west Singapore for S$14 million. Its wholly-owned subsidiary, Jin Wei Food Holdings, has acquired all the shares in Teck Whye 143 Food House (TW143) for S$10,000 in cash. TW143 had, on Jan 3 this year, exercised an option to purchase the coffeeshop property at 143 Teck Whye Lane for S$14 million.
https://www.businesstimes.com.sg/companies-markets/kimly-to-acquire-coffeeshop-property-at-teck-whye-for-s14m

US travel tech firm Sabre Corp opens Asia-Pac HQ at Paya Lebar Quarter
Singapore – Travel technology company Sabre Corporation has opened a new Asia-Pacific headquarters at Paya Lebar Quarter in Singapore, it said on Tuesday (Sept 24). The new, custom-built office takes up over 31,000 square feet of space spanning over two floors and accommodates up to 350 employees. It will have common areas and meeting rooms, and an open floor plan that features individual workspaces.
https://www.straitstimes.com/business/property/us-travel-tech-firm-sabre-corp-opens-asia-pac-hq-at-paya-lebar-quarter

Views, Reviews, Forum & Others

Tale of two cities for recent condo launches
During the weekend before last, four new private residential projects were put on the market and all of them had posted relatively tepid sales, ranging from five units for Cuscaden Reserve to 21 units at Meyer Mansion. The other two projects released in that week were Uptown@Farrer, next to Farrer Park MRT Station in the Serangoon Road area, and The Antares, next to Mattar MRT Station in the Aljunied area…
https://www.businesstimes.com.sg/companies-markets/tale-of-two-cities-for-recent-condo-launches

Creating more ‘Jewels’ in Singapore
Development projects in Singapore are never-ending. At this year’s National Day Rally, Prime Minister Lee Hsien Loong spoke about the Greater Southern Waterfront, Tuas Port, Punggol Digital District, and a host of mega development projects in the pipeline, all with significant long-term impact to Singapore. For these massive projects to be successfully implemented, all parties – including government agencies, developers…
https://www.businesstimes.com.sg/opinion/creating-more-jewels-in-singapore