Singapore-listed China developer Yanlord (YNLG.SI) said on Monday it has teamed up with GIC Real Estate to buy a prime residential site in Tianjin, China for 1.16 billion yuan ($226.1 million).
The site in Jinnan District will provide 364,787 square metres of gross floor area.
GIC Real Estate is the property arm of Singapore wealth fund Government of Singapore Investment Corp (GIC.UL).
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“We look to continue to hold on to our stakes in UBS and Citigroup for many years to come,” Tony Tan, deputy chairman of the Singapore sovereign wealth fund, said in a Jan. 29 interview at Davos, Switzerland, where he attended the World Economic Forum meeting. ‘But one never says never; if someone offers an extremely high price, of course we’ll look at the possibility.”
Government of Singapore Investment Corp., a sovereign wealth fund with US$100 billion ($128.5 billion) of reserves, will consider selling more assets through initial public offerings, Deputy Chairman Tony Tan said.
GIC, which sold US$2.7 billion of shares in its Global Logistic Properties in October, “does own a number of assets which could be good candidates for listing if the circumstances are right and there’s a need,” Tan said at the World Economic Forum in Davos, Switzerland.
Government of Singapore Investment Corp., a sovereign wealth fund with US$100 billion ($128.4 billion) of reserves, bought some of the European debt issued to finance Ireland’s bailout, Deputy Chairman Tony Tan said.
“We believe the bond is relatively safe given how it’s structured and it gives us reasonable yield,” Tan said in an interview at the World Economic Forum in Davos, Switzerland. GIC will consider buying more European rescue debt in future sales, he said.
Government of Singapore Investment Corp., the biggest investor in Citigroup Inc. and UBS AG, plans to hold on to its stakes in the banks for “many years” and will only consider selling if there are attractive offers.
“We look to continue to hold on to our stakes in UBS and Citigroup for many years to come,” Tony Tan, deputy chairman of the Singapore sovereign wealth fund, said in a Jan. 29 interview at Davos, Switzerland, where he attended the World Economic Forum meeting. ‘But one never says never; if someone offers an extremely high price, of course we’ll look at the possibility.”
“There is a major transfer of wealth from the developed countries to the developing countries in Asia,” Tan said today in an interview at the World Economic Forum meeting in Davos, Switzerland. “But it does not mean that for us in GIC, as an international investor, that we do not see opportunities, certainly in the US but even in Europe, because prices have gone so low.”
Tan made the comments at the Future of Investing panel at the World Economic Forum’s annual meeting in Davos, Switzerland, according to an e-mailed statement.
Singapore sovereign wealth fund GIC (GIC.UL) is seeking to sell an office building in Seoul, with an estimated value of up to 1.1 trillion won ($1.27 billion), South Korea’s Maeil Business Newspaper reported in its Wednesday edition.
It bought the Seoul Finance Center for 355 billion won in 2000, breaking ground for Korea property investment as an institutional investor.
Government of Singapore Investment Corp. is seeking to sell the Seoul Finance Center, which it bought for about 355 billion won ($409.3 million) in June, 2000, the Maeil Business Newspaper reported today, citing an unnamed senior official in the asset management industry. The building may fetch as much as 1.1 trillion won, according to the report.
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Australia’s Centro Properties Group has received A$13.5 billion ($17.5 billion) worth of indicative bids for its shopping malls, with top bidders including Australian and Singapore investors, the Sydney Morning Herald said on Monday.
Among the interested buyers for some or all of Centro’s assets up for sale are Westfield, Lend Lease’s Australian Prime Property Fund, CFS Retail Trust, Queensland Investment Corp, and the Singapore Government Investment Corp (GIC), the paper said without citing its sources.
US private equity firm Texas Pacific Capital (TPG.UL) and Singapore sovereign wealth fund GIC (GIC.UL) invested 2.99 trillion rupiah ($435 million) for a stake in an Indonesia coal contractor, two sources with knowledge of the deal said on Sunday.
TPG and GIC have bought non-voting shares in Northstar Tambang Persada, a special purpose vehicle which owns 40% in PT Delta Dunia Makmur (DOID.JK), according to a statement to Indonesia’s stock exchange, following a report in the Financial Times on Dec 18 about the deal.
Government of Singapore Investment Corp. said it more than doubled its stake in China International Capital Corp., making it the second-largest shareholder of the first Sino-foreign investment bank.
GIC, the manager of more than US$100 billion ($131 billion) of Singapore’s reserves, increased its stake to more than 16.35% from 7.35%, Jennifer Lewis, spokeswoman of the city’s sovereign wealth fund, said today in response to a query. The stake was bought from Morgan Stanley.
Temasek, based in Singapore, sold almost US$6 billion of bonds since October last year. Temasek-controlled Mapletree Industrial Trust and Global Logistic Properties, GIC’s overseas logistics unit, raised $5.1 billion selling shares in October, accounting for 10% of the record initial public offerings in the Asia-Pacific region that month, according to data compiled by Bloomberg.
Temasek Holdings Pte and Government of Singapore Investment Corp. raised about US$9.9 billion ($13 billion) from international investors over the past year, selling more debt and equity than any other state investment firm.
Temasek, based in Singapore, sold almost US$6 billion of bonds since October last year. Temasek-controlled Mapletree Industrial Trust and Global Logistic Properties, GIC’s overseas logistics unit, raised $5.1 billion selling shares in October, accounting for 10% of the record initial public offerings in the Asia-Pacific region that month, according to data compiled by Bloomberg.
Morgan Stanley is selling its 34.3% stake in China International Capital Corp. to Kohlberg Kravis Roberts & Co., TPG Capital, Singapore’s Great Eastern Holdings Ltd. and the island nation’s sovereign-wealth fund, four people with direct knowledge of the deal said.
Morgan Stanley plans to sell stakes of about 10% each to TPG and KKR, and about a 5% stake to Great Eastern, the insurance company controlled by Oversea-Chinese Banking Corp., said the people, who declined to be identified because the matter isn’t public. Government of Singapore Investment Corp. will buy the remainder, the people said. The 34.3% stake is valued at about $1 billion, two of the people said.
Financier J. Christopher Flowers is in talks to buy a stake in Brazil’s Banco BTG Pactual SA as part of an investor group that includes Government of Singapore Investment Corp., three people with knowledge of the deal said.
An investor group led by US buyout firm JC Flowers is in talks to buy a stake in Brazil’s privately held Banco BTG Pactual SA, Bloomberg said, citing three people with knowledge of the deal.
The investor group includes sovereign wealth fund Government of Singapore Investment Corp (GIC) [GIC.UL], the agency said.
Kim Eng, which yet to initiate stock, says size an advantage; “In the highly fragmented logistics facilities market, GLP is a market leader with a portfolio of modern facilities many times larger than its closest rivals in China and Japan,” says analyst Anni Kum.
