FINWIRES · TerminalLIVE
FINWIRES

CapitaLand Ascott Trust to Divest Singapore Hotel for SG$360 Million

By

CapitaLand Ascott Trust (SGX:HMN) signed a property sale and purchase agreement to dispose of The Robertson House by the Crest Collection in Singapore for SG$360 million, according to a filing with the Singapore Exchange on Friday.

The property is being sold to an undisclosed and unrelated third party, the filing said.

The 336-unit hotel spans 11,056 square meters in gross floor area and has a 99-year lease that commenced Nov. 27, 2006.

The divestment is expected to conclude in the third quarter of the year, with proceeds from the disposal to be used to optimize capital structure and enhance long-term returns for unitholders.

Related Articles

Asia

GCL New Energy to Form JV With AntChain

GCL New Energy (HKG:0451) plans to form a joint venture with AntChain to provide intelligent asset management and operational services outside of mainland China, according to a Thursday filing with the Hong Kong bourse.The renewable energy company's shares gained nearly 12% in morning trade Friday.The firm will contribute 8 million yuan to the venture for a 40% equity interest, with a further 10 million yuan coming from AntChain for the remaining 60%.The joint venture is subject to definitive agreements.

$HKG:0451
Asia

NZX Biggest Gainers

Here are the NZX-listed companies with the biggest gains on Friday.Tourism Holdings (NZE:THL): +22%, NZ$2.69Santana Minerals (NZE:SMI): +9%, NZ$0.68Green Cross Health (NZE:GXH): +5%, NZ$1.51EROAD (NZE:ERD): +5%, NZ$1.04Pacific Edge (NZE:PEB): +4%, NZ$0.28Michael Hill International (NZE:MHJ): +3%, NZ$0.40Serko (NZE:SKO): +3%, NZ$1.64Precinct Properties NZ (NZE:PCT): +2%, NZ$1.03PGG Wrightson (NZE:PGW): +2%, NZ$2.09Auckland International Airport (NZE:AIA): +2%, NZ$8.36

$^NZ50$NZE:AIA$NZE:ERD$NZE:GXH$NZE:MHJ$NZE:PCT$NZE:PEB$NZE:PGW$NZE:SKO$NZE:SMI$NZE:THL
Asia

AK Medical Sells 10 Robots Through May

AK Medical (HKG:1789) sold a total of 10 robots from January through May, according to a Thursday Hong Kong bourse filing.Shares of the orthopedic products company were up over 1% in Friday morning trade.AK develops intelligent orthopedic surgical robotics and digital platforms.The company signed sales contracts for two units of equipment with overseas customers on May 19 and May 25.AK Medical also secured bids for two robots in China during May, the filing said.

$HKG:1789