Singapore Economy Grows At Slowest Pace In Five Years
Singapore’s economy expanded at the slowest pace in five years in the second quarter, as manufacturers cut production amid declining orders and accelerating inflation crimped spending. GDP rose 1.9% from a year earlier, after expanding a revised 6.9% in the first three months of 2008, the trade ministry said in a statement. That was lower than the 3.2% median estimate of 18 economists in a Bloomberg News survey.

Sunshine Disposes Two Subsidiaries For Rmb53.36m
Sunshine Holdings, through its wholly owned subsidiary, Anyang Huilong Real Estate, entered into an agreement to dispose its 80% equity interest in Henan Xin Shi Jia Real Estate, which has an 80% interest in Zhengzhou Xin Shi Jia Property Management and interests in various commercial and residential property units, including garages, of International Commercial City Retail Mall, Western Modern City and Jinshejiayuan, to a third party for a total cash consideration of Rmb53.36m. After netting off the investment cost, the disposal is expected to result in a post-tax disposal gain of Rmb26.54m.

Boustead Bags $67m Deal From Fortune 500 Company
Boustead Singapore announced that its 91.7%-owned subsidiary, Boustead Projects Pte Ltd – a leading specialist in industrial real estate solutions – has been awarded a $67m contract to design-and-build an integrated semiconductor equipment manufacturing, warehouse and office facility for a global Fortune 500 Company. Expected to be completed in 3Q 2009, the facility aims to achieve the Green mark Platinum Award, which will be the first of its kind in the heavy industry category.

SingPost Plans Sale Of Headquarters For $850m
Singapore Post (SingPost) has reportedly put its 14-storey landmark headquarters building next to Paya Lebar MRT Station for sale at around $850m based on the existing use of Singapore Post Centre. SingPost is expected to lease back the space it currently occupies - which is roughly half the building’s 1m sq ft net lettable area - for both its corporate office and operations, including the mail processing centre. The rest of the property is leased to a mix of retail and office tenants, including NTUC FairPrice, Kopitiam, Barang Barang, This Fashion, HSBC Insurance, Northwest Airlines & Symantec Corporation.

ComfortDelgro Inks MOU To Acquire Custom Coaches
ComfortDelGro Corporation, through its Australian subsidiary, ComfortDelGro Cabcharge (CDC), has entered into a MOU to acquire bus builder Custom Coaches, which will give CDC a 35% share of the Australian bus building market. CDC was set up in 2005 as a joint venture between ComfortDelGro and financial services provider Cabcharge Australia. The proposed acquisition will act as a base for the group when it opens its new manufacturing plant at Rutherford, Hunter Valley in early 2009. Custom Coaches has bus building factories for fabricated stainless steel buses in Sydney, Adelaide & Gold Coast.