PRIVATE equity giant Blackstone is understood to be stitching a deal to buy a majority interest in three Singapore properties owned by Sime Darby. It is expected to take a stake of about 75 per cent in entities owning the properties; the deal values the properties at about S$300 million. The yield, on an ungeared basis, is estimated at 6 per cent. Sime Darby, the listed Malaysian plantation-based...
Sime Darby
CapitaMalls Asia and Sime Darby Property will jointly develop a shopping mall in Klang Valley, Malaysia. The companies said they have entered into a conditional agreement to form a 50-50 joint venture to develop the mall on a freehold site in Taman Melawati. The total development cost is expected to be about RM500 million (S$204.5 million). Upon completion. the mall will have a total net lettable area of...