Company Briefs: Advancer Global

Advancer Global

A unit of Advancer Global has acquired a 76 per cent stake in Newman & Goh Property Consultants and an associate company, Newman & Associate, for $3 million.

The acquisition will add to Advancer's facilities management business and provides the firm with economies of scale and the ability to offer a wider range of services, Advancer chief executive Gary Chin said.

Newman & Goh managing director Mark Tham said its presence in China will give Advancer a regional foothold.

With the acquisition, Advancer now has more than 500 corporate clients under its facilities management business.

Secura Group

Secura Group said yesterday its wholly-owned unit, Soverus Consultancy and Services, has been awarded a contract to provide security consultancy services to the upcoming Raffles City Chongqing integrated development.

This is the company's first security consultancy project in China. It involves Soverus assessing the risks posed to the property by criminal and terrorist threats, and make recommendations on security measures.

"Being one of the largest and most visible developments in Chongqing, we believe this is an excellent entry point into the vast and growing Chinese market for security services," said Secura chief executive Paul Lim.

Raffles City Chongqing is being developed by CapitaLand.

Ascendas Reit

Ascendas Real Estate Investment Trust (Reit) has acquired two properties in Australia.

The first is a business park in Sydney bought for A$143.4 million (S$148.1 million) from Frasers Property Australia.

The second is a logistics facility in Melbourne, acquired for A$24.8 million from Goodman Dandenong Trust.

Mr Chia Nam Toon, chief executive of Ascendas Reit manager Ascendas Funds Management, said the acquisitions are part of Ascendas Reit's plans to diversify its portfolio in Australia. "We will continue to seek more quality freehold properties that will help enhance Ascendas Reit's ability to generate stable and visible cash flows to our unitholders," he said.

Ascendas Reit is expected to incur an estimated total transaction cost of A$10.8 million for the two acquisitions which includes stamp duty, professional advisory fees, and acquisition fees payable to the manager .

A version of this article appeared in the print edition of The Straits Times on September 10, 2016, with the headline 'Company Briefs'. Print Edition | Subscribe