CapitaLand is expected to recognise a gross gain of about $43m from divesting the property.
The gain will comprise a $183m net gain from the dilution of CapitaLand’s interest in the four Raffles City assets as well as $130m fair value gain for Raffles City Shanghai.
Just two months after it launched a $1b preference share offering, OCBC Bank is launching another issue of 10m preference shares to raise up to $1.5b.
Singapore’s First Ship Lease Trust (FSL) said that it aims to buy up to US$350m worth of vessels a year and that borrowing costs remain reasonable despite the credit crunch.
DBS Asset Management is one of three financial institutions granted licences to set up Islamic fund management operations in Malaysia, according to report by Business Times.
CapitaLand Limited has acquired approximately 61.9% of the total retail strata area or 510,418 square feet as well as the car parks of Sungei Wang Plaza located in Kuala Lumpur, Malaysia, at a property purchase price of approximately RM595m (approximately $250m) through an asset securitisation structure.
Chip Eng Seng Contractors (1988), a wholly owned subsidiary of Mainboard-listed Chip Eng Seng Corporation has been awarded a contract worth $123.5m by the Housing and Development Board (HDB) for the construction of 5 blocks of residential building.
