joint venture

Kingsmen and Hasbro launch world's first Nerf Action Experience arena in Singapore

SINGAPORE (Oct 4): Leading communication design and production group Kingsmen Creatives has partnered global play and entertainment company Hasbro to unveil the world’s first Nerf Action Experience (NAX) arena in Singapore.

Kingsmen had entered into a licensing agreement with Hasbro in February last year, to create, build and operate the NERF brand of family entertainment centre (FEC) attractions across Asia Pacific.

Jumbo opens second Tsui Wah outlet in Singapore

SINGAPORE (Sept 17): Jumbo Group has opened its second Tsui Wah outlet in Singapore, located at The Heeren along the Orchard Road shopping belt.

This comes on the back of the group’s opening of Singapore’s first Tsui Wah outlet in Clarke Quay in June 2018, which saw a positive response during its opening with many people queueing to enter the restaurant.

See: Jumbo sees tea-riffic response with latest Tsui Wah opening

Mapletree Industrial Trust and Mapletree Investments to acquire US$1.4 bil data centre portfolio in North America

SINGAPORE (Sept 16): Mapletree Industrial Trust (MIT) and Mapletree Investments have formed a joint venture to acquire a US$1.4 billion ($1.9 billion) data centre portfolio in North America. The acquisition is expected to be DPU and NAV accretive to unitholders, says the manager of MIT. 

The manager of MIT said it plans to raise at least $350 million via a private placement to partially fund the acquisition. It plans to sell 158.3 million new units priced at between $2.211 and $2.265 each. Debt financing will also be used to fund the remainder.

UOL-led JV to launch Avenue South Residence at Greater Southern Waterfront

SINGAPORE (Aug 28): A consortium led by UOL Group will start the public preview of Avenue South Residence, a 56-storey condominium at Greater Southern Waterfront on Friday.

The condo features a total of 1,074 units – half of which are priced below $1.5 million. The development will comprise units ranging from one-bedroom to four-bedroom apartments. One-bedroom units start from $858,000 while two-bedroom units begin from $1.15 million.

Keppel expands data centre footprint in Sydney

SINGAPORE (Aug 5): Keppel Corporation’s Alpha Data Centre Fund is acquiring a 3,840 sqm plot of freehold land in Gore Hill Technology Park to develop a data centre in Sydney, Australia.

Alpha DC Fund is managed by Alpha Investment Partners, a wholly-owned subsidiary of Keppel Capital, the asset management arm of Keppel.

The greenfield data centre, Keppel DC Sydney 1, will be located adjacent to Gore Hill Data Centre, an existing data centre in Keppel DC REIT's portfolio.

Can Yangzijiang diversify itself out of a doldrum?

SINGAPORE (July 18): Yangzijiang Shipbuilding is diversify its business and venturing into new areas of expertise given an upturn in the offshore & marine industry is nowhere to be seen.

In its latest move, Yangzijiang acquired a 55% stake in Odfjell Terminal, Jiangyin (OTJ) for US$46.2 million ($62.8 million) from Norwegian tanker shipping company Odfjell.

OTJ handles various types of petrochemical products and provides terminal services for petrochemical distribution in the upstream Yangtze River region.

Aspen Group in JV with Oxley to develop integrated project in Penang

SINGAPORE (June 24): Aspen Group Holdings, the Malaysian property developer, is partnering Oxley Holdings to develop a mixed-use integrated project on Penang Island.

Spanning across 29.05 acres (1.27 million sf), the project comprises residential towers with communal facilities, service apartments, lifestyle retail facilities and a private clubhouse.

UBS forms wealth management joint venture with Sumitomo Mitsui Trust

SINGAPORE (June 7): Swiss private bank UBS has formed a joint venture with Japan’s Sumitomo Mitsui Trust Holdings, Inc (SuMi Trust Holdings) to form the first-ever wealth management partnership developed between an international financial group and a Japanese trust bank.

The joint venture will open UBS's current wealth management customer base to a full range of Japanese real estate and trust services.

SuMi Trust Holdings' clients will be able to access UBS's leading wealth management services, including securities trading, research, and advisory capabilities.

Adventus cancels $1.5 mil sale of Danang project to JV partner, continues to seek buyers

SINGAPORE (June 6): Adventus Holdings says it has terminated its agreement to sell its 45% joint venture (JV) to Tran Hoang Anh Tuan, a partner in the project who originally intended to pay US$1.1 million for the group’s owned interest in the JV’s special purpose vehicle, ADV S3.

The transaction’s termination comes after Tran issued a notice to the group saying there were “some unforeseen issues” with the transaction, and after both parties “explored all possible options”, says the group in an aftermarket filing on Thursday.

SIA Engineering to establish line maintenance JV in Thailand with NokScoot

SINGAPORE (April 1): SIA Engineering Company (SIA EC) is establishing a $2.74 million line maintenance joint venture (JV) company in Thailand with low-cost carrier (LCC) airline, NokScoot Airlines.

The JV company is due to commence operations in Bangkok’s Don Mueang Airport (DMK) with the aim to subsequently expand to other key airports in Thailand.

Under the terms of the agreement, SIA EC will subscribe for a 51% stake in the JV for $1.34 million in cash – while NokScoot will hold the remaining 49% interest with a $1.4 million cash subscription.

Be informed of the stories that matter