divestment

Upon the completion of the divestment, Sembcorp Industries has registered a currency translation loss of some $32 million, which is recognised under profit and loss in the foreign currency translation reserve.

ART says it is expected to realise total estimated net gains of some $23.2 million from the sales.

Analysts at DBS Group Research say the partnership marks a win not just for Perennial, but also Alibaba Singapore and the broader local office market.

SPH notes that the divestment of a non-core business will sharpen its strategic focus on its main business segments which consist of media, retail, retail real estate, purpose-built student accommodation and aged care.

SINGAPORE (Feb 10): Since Jan 24, units in CapitaLand Retail China Trust (CRCT) has shed some 9.09% or 15 cents to trade at $1.51 on Monday morning.

 

SINGAPORE (Oct 2): Chip Eng Seng Corporation (CES) is acquiring Sembcorp Industries’ (SCI) commercial construction business unit for $49.9 million, both Mainboard-listed companies announced in separate SGX filings on Wednesday.

SINGAPORE (Oct 1): Keppel REIT is divesting its strata ownership of Bugis Junction Towers, which it has held since its listing in 2006, for a sale price of $547.5 million.

SINGAPORE (Aug 29): Property group CapitaLand is divesting Somerset Jiefangbei Chongqing in China.

SINGAPORE (June 13): The manager of Frasers Logistics & Industrial Trust (FLT) announced that it has through its wholly-owned sub-trust, divested 50% of its interest in the property at 99 Sandstone Place, Parkinson, Queensland, Australia, for a considerat