SINGAPORE (Mar 20): Maybank and CIMB are maintaining their "buy” calls on GuocoLand following news of the developer’s joint en bloc acquisition of Pacific Mansion for a total of $980 million.
See: GuocoLand and Hong Leong win bid to acquire Pacific Mansion for $980 mil, highest in the current en bloc cycle
GuocoLand and Intrepid investments will hold 40% of the development each, with Hong Leong Realty owning the remaining 20%.
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