Singapore-listed Asian Pay Television Trust (APTT) announced that it has appointed Merrill Lynch (Singapore) Pte Ltd as the exclusive financial adviser for the strategic review while Straits Real Estate is embarking on a new expansion of its logistics portfolio in South Korea and Australia.
APTT names advisor for strategic review
APTT Management Pte Limited, the trustee-manager of Singapore-listed Asian Pay Television Trust (APTT) announced that it has appointed Merrill Lynch (Singapore) Pte Ltd (Bank of America (BOA) Merrill Lynch) as the exclusive financial adviser in connection with the strategic review.
This follows an earlier filing regarding the ongoing strategic review of the Trust, and its investment in Taiwan Broadband Communications Group (TBC).
BOA Merrill Lynch will directly report to the special committee set up by the trustee-manager in relation to the strategic review. The special committee comprises of four independent directors and the chief executive officer of the trustee-manager.
APTT units were last traded on June 20 at S$0.173, up 0.1 Singapore cents, or 0.581 per cent at 10:50 am Singapore time.
Straits Real Estate enters S Korea
Straits Real Estate (SRE), a unit of Singapore-listed The Straits Trading Company Limited (STC), is embarking on a new expansion of its logistics portfolio in South Korea and Australia nine months after entered entry the market. Armed with a total allocated capital of S$220 million ($162.35 million), SRE is targeting to grow its logistics portfolio value in excess of S$700 million ($516.57 million).
In its maiden investment in South Korea with an initial capital commitment of KRW110 billion ($93.72 million), SRE will be teaming up with South-Korea based IGIS Asset Management (IGIS) to jointly create a portfolio of logistics facilities focusing on the Greater Seoul area.
As a start, SRE has acquired 50 per cent joint interest in a 62,217 sq m freehold site located in Incheon, South Korea. The site is slated to be developed into an approximately 190,000 sqm, five-storey ramp-up logistics facility.
Separately, SRE is partnering with Australia-based Commercial & General (C&G) through its Integrated Logistics Partners (ILP) set up nine months ago, to acquire a land site located in Adelaide, South Australia for a build-to-suit (BTS) project.