Singapore: Ascendas Hospitality denies divestment from Melbourne hotels,Tesla revives push into city-state

A Tesla car 'Model S' sits in a dealership in Berlin, Germany, November 18, 2015. REUTERS/Hannibal Hanschke

Singapore-listed Ascendas Hospitality, a unit of the Temasek Holdings-backed Ascendas conglomerate, has denied reports that it plans to divest Australian hotel assets. Meanwhile, Tesla Motors is reviving its efforts in Singapore with the planned opening of a new office.

Ascendas Hospitality denies efforts to divest hotel assets

Ascendas Hospitality Trust has assured that they are not contemplating divesting of its Pullman and Mercure hotels at Albert Park, Melbourne.

This stems from an article in The Australian which reported that “Ascendas readies $150 million checkout of Pullman and Mercure hotel” on August 11. It also reported that there would be evaluation over Ascendas’ position in Melbourne after the “purchase of serviced apartments in the Aurora Melbourne Central project from Malaysian property developer UEM Sunrise for A$120 million” ($92.5 million).

The Trust advises Stapled security holders not to rely on speculative media reports and not to act on hearsay, exercising caution when taking action and acquiring information, they said in an SGX filing on Monday.

Tesla Motors returns to Singapore market

Tesla Motors, the Nasdaq-listed American electric car maker. is looking to introduce its cars to the Singaporean market and provide charging infrastructure for its electric cars.

Tesla executives have been meeting with Singapore government representatives and engaged in expanding their workforce in the city-state. Moreover, Tesla is engaged in talent acquisition efforts to recruit executives to work in their new Singapore office, which will be reportedly sited in Singapore’s new central business district, based in the western district of the city-state.

Over the years, the Singapore government’s expenditure on transportation network modernisation has increased – there are plans by the government to install 2000 electric charging points island-wide. Self-driving cars will make their appearance on Singapore’s expressways, with the first set of tests starting at the end of 2016.

Recently, government-linked corporations (GLCs) of the Singapore government have made investments into automated vehicles (AVs). SMRT recently led an investment in an AV firm, as did EDBI, the investment arm of Singapore’s Economic Development Board (EDB).

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.