Singapore company briefs: CapitaLand Development, CapitaLand Integrated Commercial Trust (CICT) and Mitsubishi Estate, Courage Investment Group and No Signboard Holdings.
CapitaLand Development, CICT and Mitsubishi Estate
The 51-storey CapitaSpring development at Singapore’s 88 Market Street has completed construction, and around 93 percent of its 673,000 square feet of its retail and office space has been committed, reflecting robust demand, the developers said in a filing to SGX Wednesday.
The Citadines Raffles Place Singapore, as the new flagship for Citadines Apart’hotel, managed by The Ascott Ltd., with 299 serviced residence units, is also located in the development, the filing said.
Courage Investment Group
Courage Investment Group said Wednesday its indirect wholly owned subsidiary, Courage Marine Property Investment, entered a deal to sell a property located in Shun Tak Centre, Nos. 168-200, Connaught Road Central, in Hong Kong, for HK$68.3 million, or around US$8.76 million, to Hong Kong-based Mutual Champion Investment, which is owned by Ngan Yuet Ching.
“In view of the adverse impact on the economic conditions and commercial property market in Hong Kong owing to the prolonged continuation of the Covid-19 pandemic, the directors are of the
opinion that the disposal represents a good opportunity for the company to realise the value of the
property at a reasonable price,” the company said in a filing to SGX.
The net proceeds are expected to be around HK$66.8 million, the company said, adding the property was acquired in 2010 from around US$3.82 million.
No Signboard Holdings
No Signboard Holdings said Wednesday that its wholly owned subsidiary Hawker QSR has made a statutory declaration that it is unable to continue business due to its liabilities and its has proposed appointing a liquidator.
A meeting of Hawker QSR’s sharehodlers and creditors has been scheduled for 23 February, the company said in a filing to SGX.