NATIONAL Trades Union Congress (NTUC) has emerged as a substantial shareholder of CapitaLand Mall Trust (CMT) after its stake in the retail Reit crossed 5 per cent last week. In a regulatory filing with the Singapore Exchange, CMT disclosed that NTUC's deemed stake went up from 4.9 per cent to 5.04 per cent on Jan 11 following the purchase of 5 million shares for S$10.07 million. CMT units closed 0.5...
NTUC
NTUC Income will be acquiring a further 51 per cent stake in 16 Collyer Quay from Goldman Sachs to fully own the prime office building. In a statement, the Singapore insurer said the acquisition values the 37-storey, 999-year leasehold building formerly known as Hitachi Tower, at around S$660 million. This works out to less than S$2,400 per square foot on a net lettable space of over 278,000 square...
The labour movement's recreational arm has scrapped plans for a S$45 million resort development in Sentosa. Palawan Resort was touted as a quality high-end resort for the working class. It was to have opened its doors by the end of last year. But the development faced several delays since it was announced in 2005 by former NTUC Secretary-General Lim Boon Heng. A 3-hectare disused carpark on the resort...