Metro

Metro expects net cash to decline as it seeks out property developments

PROPERTY firm Metro Holdings on Tuesday said its net cash is expected to decline as it seeks out property developments, following a call from an activist shareholder for a special cash dividend. It was responding to an open letter from Quarz Capital Management dated Oct 4, 2016. Metro said its current net cash position is a recent occurrence due to the sale of properties over the last one to two...

Metro to close City Square Mall outlet at the end of the year

Metro will close its City Square Mall outlet when its lease expires at the end of the year, said City Developments Limited (CDL) and Metro Holdings Limited in a joint statement on Monday (Sep 14). The mall “will be introducing new concepts and brands by next Chinese New Year (February 2016). Tenants with these brands will take the place of Metro Department Store,” said Metro and CDL, which owns the...

Metro to close Sengkang outlet after 12 years

Metro will shut its Sengkang department store at Compass Point as the lease is expiring in August and will not be renewed, ending a 12-year association with the mall. "On the exact date of closure, Metro's management is still working on the matter," a Metro spokesman said in response to a query from Channel NewsAsia. He said Metro would like to continue serving residents in the Sengkang area, but...

Metro to invest S$41.7m in three China property developments

Mainboard-listed retailer Metro Holdings is expanding its property business in China. The firm said on Friday that it is making an investment commitment of about S$41.7 million to acquire stakes in three developments in Anshan, Fushan and Qinhuangdao. Metro's wholly-owned subsidiary, Metro China, has set up a 21.4 per cent associated firm called Diamond Wind Company for the investment. The balance 78.6...

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