Ascott Residence Trust (ART) will invest about JPY 10.4 billion[1] (S$125.0 million[2]) to acquire four rental housing properties and its first student accommodation property in Japan. The yield-accretive acquisitions are set to increase ART’s pro forma FY 2021 Distribution per Stapled Security by approximately 1.7%[3]. The average NOI yield[4] is expected to be about 4.0%. The five properties will be acquired on a turnkey basis from two different sellers on a willing buyer and willing seller basis. The transactions are expected to be completed between 1Q 2022 and 2Q 2023.
SBS Transit appoints former SMRT board member as new chairman Toggle share menu
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Chairman of transport operator SBS Transit Mr Bob Tan Beng Hai. (Photo: SBS Transit)
29 Apr 2021 07:54PM) Share this content
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SINGAPORE: Transport operator SBS Transit has appointed a new chairman to succeed Mr Lim Jit Poh who announced his retirement last month after 18 years at the helm.
The new chairman, Mr Bob Tan Beng Hai, will assume the position on Friday (Apr 30).
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Mr Tan is no stranger to the public transport sector, said SBS Transit in a media release, noting that he was on the board of SMRT from 2006 to 2017.