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
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).