SG briefs: CapitaLand Development, CICT, Courage, No Signboard

The 51-storey CapitaSpring building at 88 Market Street in Singapore reached completion at the end of 2021. The development is jointly owned by CapitaLand Development, CapitaLand Integrated Commercial Trust (CICT) and Mitsubishi Estate. Credit: CapitaLand (Photo: RENDY ARYANTO / VVS.sg)The 51-storey CapitaSpring building at 88 Market Street in Singapore reached completion at the end of 2021. The development is jointly owned by CapitaLand Development, CapitaLand Integrated Commercial Trust (CICT) and Mitsubishi Estate. Credit: CapitaLand (Photo: RENDY ARYANTO / VVS.sg)

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 development is jointly owned by CapitaLand Development (CLD), CapitaLand Integrated Commercial Trust (CICT) and Mitsubishi Estate, the filing said. 

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.

Read the filing to SGX.

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.