Shanghai

Nobody wins in a trade war

(July 15): With remarkable — some might say suspicious — speed, the Purchasing Managers’ Index figures for June were released on July 1. The PMI reading fell to 51.7 in June. This was down from 52.1 in the previous month but above market expectations of 51.0. However, the latest reading points to the weakest pace of expansion in the manufacturing sector since October 2016.

Nobody wins in a trade war

(July 15): With remarkable — some might say suspicious — speed, the Purchasing Managers’ Index figures for June were released on July 1. The PMI reading fell to 51.7 in June. This was down from 52.1 in the previous month but above market expectations of 51.0. However, the latest reading points to the weakest pace of expansion in the manufacturing sector since October 2016.

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CapitaLand injects two Shanghai office buildings to discretionary equity fund as seed assets

SINGAPORE (May 24): CapitaLand is injecting two prime Shanghai office buildings into CapitaLand Asia Partners I – the group’s maiden discretionary real estate equity fund which first closed on April 22 this year – as seed assets.

In a Friday filing, the group says it is divesting its interests in companies holding Innov Center to CapitaLand Asia Partners I, at a price that takes into account an agreed property value of RMB3.1 billion ($621 million).

Raffles Medical Group says not long before China forms 20-40% of overall business

SINGAPORE (April 29): Raffles Medical Group (RMG) says Raffles Hospital Chongqing saw around 500 patients over 1Q19 since it opened in January this year. The new hospital currently has between 100 and 150 beds, and the group intends to roll out more beds progressively to fill its 700 bed capacity.

Ascendas-Singbridge partners Mitsui to own & operate two office buildings in Shanghai

SINGAPORE (Feb 14): Ascendas-Singbridge Group and Mitsui Co have signed an agreement to jointly own and operate two office buildings in Shanghai, Ascendas Innovation Place (AIP) and Ascendas Plaza (AP), through a 55:45 partnership.

Ascendas-Singbridge is jointly owned by Temasek Holdings and JTC Corporation through a 51:49 partnership, while Mitsui is one of the largest general trading houses in Japan. 

CapitaLand in JV to acquire 70% of Pufa Tower in Shanghai CBD for $546 mil

SINGAPORE (Jan 7): CapitaLand has formed a 50:50 joint venture with an unrelated third party to acquire 70% of Pufa Tower in Shanghai, China, for RMB2,752 million ($546.3 million).

Property markets from Hong Kong to Sydney join global downturn

(Jan 7): Asia is finally succumbing to the global property slowdown that’s jolted homeowners and investors from Vancouver to London, with markets in Singapore, Hong Kong and Australia showing fresh signs of softening.

The economic ramifications could be serious. Lower house prices and higher mortgage rates will not only dent consumer confidence, but also disposable incomes, S&P Global Ratings said in a report last month. A simultaneous decline in house prices globally could lead to “financial and macroeconomic instability,” the IMF said in study released in April.

Raffles Medical announces opening of Chongqing hospital

SINGAPORE (Jan 2): Raffles Medical Group (RMG) says its 700-bed hospital in Chongqing is now open, with a second hospital to open in Shanghai, Pudong Qintan, this year.

Raffles Hospital Chongqing marks Singapore’s first international tertiary hospital in China, and brings RMG’s presence in Asia to 14 cities, eight of which are in China.

The building has two tower blocks connected by a podium, and has a gross floor area (GFA) of over 100,000 sq m.

OUE Lippo Healthcare JV to manage 3 hospitals in major Chinese cities

SINGAPORE (Dec 31): OUE Lippo Healthcare will manage three medical facilities in Shanghai, Chongqing and Nanjing through to a joint-venture agreement.

Named China Merchants Lippo Hospital Management (Shenzhen), the company is a 50:50 JV between OUE Lippo’s indirect wholly-owned subsidiary Lippo Healthcare and China Merchants Landmark (Shenzhen), a member of China Merchants Group (CMG).

SK Jewellery launches second Love & Co. store in China

SINGAPORE (May 21): SK Jewellery Group, formerly known as Soo Kee Group, today announced the opening of its flagship Love & Co. store in Shanghai, China, at Hong Kong Plaza shopping mall.

This marks the group’s second store in China following the opening of its first store in Shenzhen in 1Q18.

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