Singapore: Ascendas-CMEC JV targeting pan-Asian projects

Visual of Ascendas portal. November 2015.

Ascendas Groupa portfolio firm of Temasek Holdings, has entered into a joint venture (JV) agreement with China’s state-owned industrial and trading enterprise, China Machinery Engineering Corporation (CMEC), for strategic collaboration in pan-Asian industrial/business park investments and developments.

As part of the JV, the two companies will jointly explore opportunities in key Asian countries under China’s One Belt One Road (OBOR) initiative: China, India, Vietnam, Indonesia and Malaysia. It could also represent a convergence of interests regarding greater transport and logistics connectivity in Southeast Asia.

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