Keppel Land

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.

ST Engineering

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.

Asti Holdings

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.