A wholly owned subsidiary of Keppel Land is closing in on a plot of land worth 586 billion rupiah (S$59.5 million) in Jakarta's central business district, the company said yesterday.
The unit has entered into a conditional sales and purchase agreement with Indonesian lender Bank Central Asia for the 83,000 sq ft site next to International Financial Centre Jakarta, a Keppel Land office project.
The company plans to spend $170 million to turn the site into a high-rise apartment block of about 400 luxury homes.
Singapore Technologies Engineering's new corporate venture capital arm has made its first investment.
ST Engineering Ventures, which started in July, has bought a minority stake for US$5.8 million (S$7.8 million) in California-based cyber security provider Janus Technologies, the company said yesterday.
This is part of the group's strategic push into cyber security, robotics, autonomous technology and data analytics.
Singapore-listed semi-conductor manufacturer Asti Holdings is mulling over a sale of wholly owned subsidiary Semiconductor Technologies & Instruments (STI) to a Chinese investment firm, the company said yesterday.
STI and other related units could be acquired by China Fortune-Tech Capital for $105 million to $115 million. The company's market capitalisation is around $31 million.
Asti has entered into a non-binding agreement with the Shanghai-based investor, which was set up in 2014 and focuses on the integrated circuits semiconductor segment.