Top HK developer Sun Hung Kai’s board ousts chairman

Top HK developer Sun Hung Kai’s board ousts chairman
 
HONG KONG – The board of Hong Kong’s top developer, Sun Hung Kai Properties, ousted company chairman Walter Kwok on Tuesday as a family power struggle convulsed one of the city’s most respected blue-chip firms.
 
Mr Kwok, who has taken a leave of absence since Feb 18, has [...]

Champion Reit to raise nearly US$1b for Langham deal

Champion Reit to raise nearly US$1b for Langham deal
 
HONG KONG – Hong Kong’s Champion Reit is raising up to US$980 million through a sale of units and convertible bonds to buy the Langham Place office and retail complex, according to a document sent to investors.
 
The real estate investment trust (Reit) announced in February it [...]

US recession still probable: Greenspan

US recession still probable: Greenspan
 
LONDON – A recession in the United States remains a probability, former Federal Reserve chairman Alan Greenspan said in an interview published on Tuesday.
 
Speaking to the Financial Times from Washington, Mr Greenspan said he believed ‘there is a greater than 50 per cent probability of recession’. He noted, however, that [...]

US new home sales rise 3.3% in April

US new home sales rise 3.3% in April
 
WASHINGTON – Sales of new homes in the United States rose an unexpected 3.3 per cent in April from the prior month, to a seasonally adjusted annual pace of 526,000 homes, a government report showed on Tuesday.
 
The spike in sales was unexpected as most analysts had predicted that [...]

Restoration work underway at Cornwall Gardens Road

Restoration work underway at Cornwall Gardens Road
 
SINGAPORE: The Land Transport Authority (LTA) has said expects one lane of Cornwall Gardens Road to be opened this Friday.
 
LTA said its inspection of the area is complete and reassures the public that buildings in the area are safe.
 
The family that has moved to the hotel since [...]

PUB clears river sludge along Robertson Quay

PUB clears river sludge along Robertson Quay
 
SINGAPORE: The air along Robertson Quay has finally been cleared. And the source of the offending stench a 1m-thick layer of sludge lining the bed of the Singapore River has been removed, giving the area a breath of fresh air.
 
The years of muck that lined a 50m stretch [...]

Parkway Life REIT investing in two nursing homes in Japan

Parkway Life REIT investing in two nursing homes in Japan
 
SINGAPORE: Parkway Trust Management, the manager of Parkway Life Real Estate Investment Trust, is investing in two nursing homes in Japan for some S$34m.
 
One of the homes is located in Yokohama City, Kanagawa Prefecture and the other is in Ibaraki City, Osaka.
 
The vendor of [...]

URA releases 2 sites at Woodlands, Kallang Pudding Road for sale

URA releases 2 sites at Woodlands, Kallang Pudding Road for sale
 
SINGAPORE: The Urban Redevelopment Authority (URA) has launched an industrial site at Woodlands Industrial Park E5 for sale by public tender.
 
The site has an area of 1.68 ha and is zoned for a Business 2 development. The tender for the site will close at [...]

Goh Chye Boon is Tianjin JV CEO

Goh Chye Boon is Tianjin JV CEO
 
KEPPEL Corporation yesterday announced the appointment of Goh Chye Boon as chief executive of a Singapore-China joint venture company formed to spearhead the Tianjin Eco City project.
 
Mr Goh is now deputy secretary (industry) at the Ministry of Trade and Industry (MTI).
 
He will be seconded to head the Sino-Singapore [...]

Surbana wraps up 2 Qatar masterplan projects

Surbana wraps up 2 Qatar masterplan projects
 
SINGAPORE-BASED Surbana Corporation yesterday said it had completed two masterplan projects in Qatar, one each for the municipalities of Al Wakrah and Al Khor.
 
 
Both projects, by the Surbana Urban Planning Group, were awarded last year by Qatar’s Urban Planning and Development Authority and launched recently.
 
The detailed masterplans, to be [...]