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Mingtiandi Username Tang and Co plan to redevelop Maxwell House into a mixed-use project A pair of Singapore-listed firms controlled by a mysterious mainland investor with links to the younger brother of former US president George W Bush has teamed with a Hong Kong construction firm to win a tender for a mixed-use project in the Lion City’s Tanjong Pagar area. SingHaiyi Group, which is controlled by mainland-born billionaire Gordon Tang and wife Celine, joined with Chip Eng Seng Corporation, which the Tangs also control, and an affiliate of Hong Kong-listed Chuan Holdings in a joint bid for the en bloc purchase of the building known as Maxwell House at a price of S$276.8 million ($207.8 million) on Thursday, according to a filing with the Singapore Exchange. ....
Kestelman has big $20m budget for Southbank site We’re sorry, this service is currently unavailable. Please try again later. Dismiss Normal text size Advertisement Larry Kestelman is understood to have splashed out nearly $20 million on the Budget development site on City Road, Southbank. Records show one of Mr Kestelman’s companies, LKPG SPV3, put a caveat on the low-rise warehouse in November. Larry Kestelman: A capital success at Capitol Grand. Credit:Eamon Gallagher Mr Kestelman is cashed up after selling down his South Yarra holdings to Greystar last year for a new build-to-rent project in the Forrest Hills precinct. ....
Stocks to watch: OCBC, Keppel, China Everbright, Chip Eng Seng, First Reit businesstimes.com.sg - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstimes.com.sg Daily Mail and Mail on Sunday newspapers.
SINGAPORE (THE BUSINESS TIMES) - Property developer Chip Eng Seng is expecting to report a FY2020 net loss in mid-February 2021 as opposed to its FY2019 net profit of S$32.6 million, due to the adverse impact of Covid-19 on its businesses. The full year net loss incurred will be wider than the S$25.7 million net loss it reported for H1 2020, said the group in its profit warning issued on Monday (Jan 11). In the property segment, Chip Eng Seng s ongoing development projects Grandeur Park Residences, Park Colonial, Parc Komo and Kopar at Newton were affected by the closure of their construction sites for several months in FY2020, which in turn dampened revenue recognition and progressive payments from property buyers. ....
Stocks to watch: SIA, DBS, Keppel, Boustead, Chip Eng Seng businesstimes.com.sg - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstimes.com.sg Daily Mail and Mail on Sunday newspapers.