Ascendas India Trust

Ascendas India Trust (a-iTrust) announced yesterday the proposed acquisition of an industrial facility in Chennai for 2.11 billion rupees (S$38.8 million) via a forward purchase agreement.

The trust manager said the proposed acquisition, estimated to be completed by the middle of this year, is expected to add 0.04 cent to the financial year 2020 distribution per unit.

a-iTrust will partially fund the development of the facility, amounting to 1.4 billion rupees, via a debenture subscription agreement with the site's developer, Chengalpattu Logistics Parks.

THE BUSINESS TIMES

TPG Capital Asia

Private equity company TPG Capital Asia is considering a plan for an initial public offering of its pathology business in the region, according to sources with knowledge of the matter.

The buyout firm has asked banks to submit proposals for the potential listing of Pathology Asia Holdings, said the sources, who asked not to be named.

TPG is still weighing a listing venue for the business, with Singapore among the options, the sources said.

The firm has expanded the business since it initially bought 39 pathology laboratories from Healthscope in 2018 for A$279 million (S$287 million).

BLOOMBERG

UBS

UBS Group's new chief executive Ralph Hamers earned 4.2 million Swiss francs (S$6 million) during his first four months on the job.

Mr Hamers received a fixed pay of 1.21 million Swiss francs and variable compensation of 3 million Swiss francs after he "drove measures to improve collaboration, ownership and accountability" during his first months in charge, according to the Swiss bank's annual report yesterday. The bank weathered the pandemic better than many of its peers, and its total bonus pool for employees rose 24 per cent to US$3.3 billion (S$4.4 billion) last year.

BLOOMBERG