Daily Archives: March 21, 2019 (19 Articles Found)

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Terminated hotel deal a setback for Oxley’s deleveraging plans

Aggressively geared Oxley Holdings will find it harder to keep to its stated deleveraging schedule after a planned S$950 million sale of two Stevens Road hotels fell through. The property developer’s shares slid 3 per cent, or one…

Capella Singapore installed a plaque on top of the spot where Trump and Kim shook hands for the first time

It seems like forgotten fever dream now, but less than a year ago, the world was fixated on our tiny little island where two larger-than-life political figures met each other. The luxurious Capella Hotel on the resort Island…

PUB ready to take over desalination plant at zero dollars if Hyflux’s Tuaspring does not resolve defaults

PUB said on Thurs it will terminate the water purchase agreement with Hyflux subsidiary Tuaspring Pte Ltd (TPL) and start taking over its desalination plant, if the company does not remedy its defaults by Apr 5. PUB said…

Unit at Four Seasons Park up for auction at $6.2 mil

A 2,260 sqft, four-bedroom unit at Four Seasons Park, along Cuscaden Walk in prime District 10, will be put up for auction on Mar 27. This is an owner’s sale with a guide price of $6.2 million ($2,743…

Soilbuild REIT disposes 72 Loyang Way asset for $34.1 mil with remaining lease of 19 years

Soilbuild REIT has agreed to sell its industrial property at 72 Loyang Way, and all of its mechanical electrical equipment, to Kim Hock Enterprise for a total consideration of $34.08 million. The REIT is expecting net proceeds of…

These young engineers want to make recycling a breeze in Singapore

“When I have something I want to recycle, what can I do?” That was one of the main problem statements a group of four young engineers at the GovTech’s Data Science and AI department were hoping to tackle…

Self-driving vehicles for road sweeping to go on trial

Self-driving vehicles to clean roads in Singapore will go on trial in 2020, said NEA and MOT on Thurs. Two consortiums have been selected to design, develop and test the vehicles, following a RFPs that was issued in…

Oxley appoints agents for sale of Mercure, Novotel Hotels

Having initially called off the sale of its Mercure and Novotel Hotels on Wed, property developer Oxley Holdings announced on Thurs that it has appointed CBRE, Jones Lang LaSalle Property Consultants and JLL Hotels & Hospitality Group as…

Devote land to growing crops

I applaud Singapore for opening up land for agri-tech ventures and the fishing industry to make our country more self-sufficient in producing our own food and less dependent on Malaysia. With the growth of online shopping and e-commerce,…

Make PMD riders undergo mandatory safety course

The current rules and regulations that govern PMDs do not deter errant riders from committing serious offences. The authorities still lack the final piece in the puzzle in the fight against errant PMD riders. Education plays a big…

Surge in abandoned cats – is microchipping the answer?

Amid a surge in cat abandonment cases over the past few years, regulators are considering microchipping felines here to combat the problem. Animal activists say while this is a good step, it should be done in tandem with…

Will Salim-Medco walk away from Hyflux deal?

Hyflux has been forced into a bind, and its fate could well be sealed without creditors having any say in the matter after all. In a surprise turn of events, the team of potential investors led by Indonesian…

White smoke from train at Buona Vista Station due to air-con refrigerant leak: SMRT

White smoke that was seen wafting out from a train at Buona Vista Station on Wed morning was due to an air-conditioner refrigerant leak, said SMRT. In a FB post late Wed night, the public transport operator said…

Straws made of rice have debuted in Singapore – could they save the earth?

In the battle against single-use plastics, plastic straws have become public enemy number one. But reusable metal straws, which are now fashionable in restaurants, aren’t the most ideal solution either – quantities of detergent and water are required…

Frasers Property unit secures $785m green club loan

Frasers Property’s indirect wholly-owned subsidiary Frasers Property North Gem Trustee has clinched a green club loan worth $785m, an announcement revealed. According to Frasers Property, the green loan was drawn from a club of four banks comprising of…

Frasers Property and FCT raise stakes in PGIM Asia retail property fund for $635 mil

Frasers Property Limited and Frasers Centrepoint Trust (FCT) are raising their stakes in PGIM Real Estate Asia Retail Fund for $635 mil in total. Frasers Property, which is also the sponsor of FCT, says the investments are line…

ST Engineering partners BYD for new autonomous bus platform

ST Engg has signed a MoU with BYD to include the Chinese automobile manufacturer’s electric buses in its Land Systems arm’s portfolio of autonomous bus platforms. This comes as part of ST Engg’s plans to form a consortium,…

The allure of Singapore’s shophouses

Investors have been snapping up shophouses in Singapore which has propelled the sales value of these assets to a record high in 2018. Shophouses are popular partly due to the lack of ownership restriction for units that sit…

24 lodgers allegedly crammed into four-room Pandan Gardens flat

Three double-decker bunk beds are crammed into a bedroom of HDB flat, with clothing hanging haphazardly from the beds and ceiling, and barely any space to move around. These were the claustrophobic conditions that lodgers living in an…

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