Worldwide Hotel Group unit places record bid for rare hotel site after cooling measures

Editor's note: We have corrected an earlier version of Bloomberg's story to say Midtown Development is a subsidiary of Worldwide Hotel Group, and not Oxley as previously stated

(Jan 16): A rare plot of land that’s zoned for a hotel near Singapore’s central business district has attracted a record bid as developers shift focus after last year’s property cooling measures.

GLP’s potential privatisation could be ‘strategic move’ for further asset control

SINGAPORE (Dec 2): UOB Kay Hian is maintaining its “buy” recommendation on Global Logistic Properties (GLP) with an unchanged target price of $2.40.

This comes after the property owner on Thursday evening announced its appointment of JPMorgan as a financial adviser to undertake a strategic review which was prompted by its group’s largest shareholder GIC Real estate.

To recap, Bloomberg last month said GLP attracted takeover interest from a consortium that includes China’s sovereign wealth fund, China Investment Corporation (CIC).

GLP says JPMorgan appointed to undertake strategic review

SINGAPORE (Dec 2): Global Logistic Properties (GLP) has acknowledged that it is undertaking strategic review following a request from its largest shareholder, GIC Real Estate, and has appointed JPMorgan as a financial adviser to assist in the review.

JPMorgan, as part of the review, has been making preliminary approaches to various parties to evaluate the viability of the business, states GLP.

AirYotta backs out of race for Singapore’s 4th telco; two bidders left

SINGAPORE (Nov 16): AirYotta today announced it has dropped out of the race to become Singapore’s fourth telco as it “did not meet all of the Infocomm Media Development Authority’s requirements for the bid”.

This means the remaining bidders, MyRepublic and TPG Telecom, will vie for the title of Singapore’s fourth telco licence.


Temasek said to be among second-round bidders for Learfield

SINGAPORE (Sept 17): Temasek Holdings, the Singaporean state-owned investment group, is among the bidders for Learfield Communications Inc., people familiar with the matter said.

Temasek is in the second round of the Learfield auction, as are entertainment and sports talent group Creative Artists Agency LLC and Thomas H. Lee Partners, said the people, who asked not to be identified because the information is private. Temasek may opt to bid in tandem with another group, one of the people said.

AirYotta joins race for fourth telco licence

SINGAPORE (Sept 1): A newly-formed data-first telecommunications company has joined the race in becoming Singapore’s fourth mobile operator.

AirYotta on Thursday submitted an Expression of Interest (EOI) in the New Entrant Spectrum Auction (NESA) for the 2x10 in 900MHz and 40 MHz in 2,300MHz spectra with the Infocomm Development Authority (IDA).

The auction’s deadline for submissions was at 5pm on today. 

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