Friday, December 13, 2013
Keppel REIT says both the office and newly completed retail space at Ocean Financial Centre are fully committed. With this, all of Keppel REIT’s five Singapore properties are now 100% occupied, up from its Singapore portfolio average occupancy of 99.5% as at end-September 2013. This is also higher than the average Singapore CBD occupancy of 93.5% for the third quarter of 2013.
Sheng Siong Group’s wholly-owned subsidiary, Sheng Siong Supermarket Pte Ltd, has been granted an option to purchase the commercial premises situated at Block 71 Kallang Bahru #01-531 Singapore 330071 for a consideration of $13.5 million. The Property has a floor area of 779 square metres and is located within a two storey shopping complex. The remaining leasehold tenure of the property is 60 years. The property is intended to be acquired subject to an existing tenancy which expires on 24 October 2014. The group intends to occupy and use the Property for the operation of a supermarket following the expiry of the existing tenancy which expires on 24 October 2014.
KSH Holdings’ wholly-owned subsidiary, Kim Seng Heng Engineering Construction (Pte), has won a $42.5 million construction contract by United World College of South East Asia. Under the contract, the group will carry out work on the proposed addition of 1 block of five-storey building with other ancillary works to the existing UWCSEA campus at 1207 Dover Road Singapore 139654. Construction is expected to commence in December 2013, with completion expected within 20 months.
TTJ has reported 45% higher earnings of $4.9 million for the quarter ended 31 October 2013 (1QFY2014) compared to $3.2 million a year ago (1QFY2013) as profitability improved with gross profit margin rising from 14.4% in 1QFY2013 to 25.3% in 1QFY2014. Revenue in fact declined 26% to $32.1 million from $43.2 mainly due to lower sales recorded in the structural steel business.
Thursday, December 12, 2013
Coca-Cola Singapore has inked a four-year branding partnership with the ArtScience Museum at the Marina Bay Sands (MBS) integrated resort.
The partnership between these two easily recognisable brands will start from 2014 and run till end of 2017.
“We see tremendous synergies as both brands are drivers of innovation in our respective leagues,” says Maunik Thacker, MBS’ senior vice president for marketing.
“The Coca-Cola brand is synonymous with happiness and we are pleased to partner Marina Bay Sands, an iconic destination that creates magical memories for both Singaporeans and tourists alike,” says Amit Oberoi, CEO of Coca-Cola Singapore Beverages. Financial terms of this partnership were not disclosed.
Two Singapore companies are in the consortium which won Monday’s public bidding to develop and run a fare-collection system for Metro Manila’s rail system.
Temasek-linked SMRT Corporation and MSI Global, a unit of Singapore’s Land Transport Authority (LTA), are expected to bring their respective areas of expertise and resources to the table for the AF Consortium.
The consortium’s bid of 1.8 billion pesos ($50.9 million), the lowest one, pipped the bids of two other contenders - Malaysia’s Berjaya and ethnic Chinese taipan Henry Sy.