Stephen Riady acquires Nassim Road GCB from OUE unit for $95mil

  • 📰 YahooSG
  • ⏱ Reading Time:
  • 29 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 71%

Singapore News News

Singapore Latest News,Singapore Headlines

Tycoon Stephen Riady acquires Nassim Road GCB from OUE unit for S$95m. YahooFinance

1 / 1Is this the most expensive property transaction in Singapore ever?Stephen Riady, the executive chairman and controlling shareholder of OUE Limited, is purchasing a good class bungalow at Nassim Road from an OUE unit for $95 million, revealed OUE in an SGX filing on Wednesday .

The property developer noted that the sale is made “in the ordinary course of business of the group”. Using the comparable sale method, Cushman & Wakefield VHS valued the property – on the basis of market value – at $87 million, while Knight Frank valued it at $85.5 million using the direct comparison method.

The company’s audit committee is “of the view that the terms and conditions of the transaction are fair and reasonable, on normal commercial terms, and are not prejudicial to the interests of the company and its minority shareholders”.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in SG

Singapore Latest News, Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tycoon Stephen Riady buys GCB from OUE unit for S$95mPROPERTY developer OUE's executive chairman and controlling shareholder Stephen Riady is buying a Good Class Bungalow (GCB) at Nassim Road from an OUE subsidiary for S$95 million, OUE announced in a regulatory filing on Wednesday night. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

OUE C-Reit unitholders approve merger; OUE H-Trust to hold EGM at 3pm on WednesdayUNITHOLDERS of OUE Commercial Reit (C-Reit) on Wednesday approved the trust’s proposed merger with OUE Hospitality Trust (H-Trust), while stapled securityholders of H-Trust are set to vote on the deal later in the afternoon. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

OUE Q2 net profit soars on gain from divestment of stakesPROPERTY developer OUE Limited on Tuesday posted a ballooning in net profit to S$60.9 million for its second quarter ended June 30. This was more than 10 times the S$5.3 million that it reaped a year ago. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Stocks to watch: Wilmar, Yanlord Land, OUE, Manulife US Reit, Metro, BreadTalkTHE following companies saw new developments that may affect trading of their shares on Wednesday: Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Trading halts for OUE Limited, C-Reit, H-Trust pending EGMs on proposed mergerUNITHOLDERS of OUE Commercial Reit (C-Reit) and OUE Hospitality Trust (H-Trust) are set to vote on the two trusts’ proposed merger at their separate extraordinary general meetings (EGMs) on Wednesday. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Tycoon Stephen Riady buys GCB from OUE unit for S$95mPROPERTY developer OUE's executive chairman and controlling shareholder Stephen Riady is buying a Good Class Bungalow (GCB) at Nassim Road from an OUE subsidiary for S$95 million, OUE announced in a regulatory filing on Wednesday night. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »