Company briefs: Geely
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PHOTO: REUTERS
Geely
Chinese car company Zhejiang Geely Holding Group is exploring other avenues for raising funds, including letting individual business units seek out capital on their own, after backing away from a listing on Shanghai's Nasdaq-style Star Board.
"We're still keeping the Star listing as one of the options, but we have more options," chief executive Daniel Li said in his first international interview in the role at Geely, China's largest private carmaker and the owner of Volvo.
Geely withdrew the Star Board listing application last Friday, citing strategic adjustments.
BLOOMBERG
Alphabet's Google announced measures yesterday to clamp down on financial fraud on its platform in Britain, saying it will require all financial services to be verified by the regulator before they can advertise.
Google said it will begin enforcing the new policy, which follows calls from the Financial Conduct Authority for the tech giant to vet paid promotions, from Sept 6. The watchdog issued 1,200 consumer warnings last year about scams advertised via social media platforms by fake companies, double the amount in 2019.
REUTERS
Suntec Reit
Suntec Reit is divesting a portfolio of strata units at Suntec City Office for $197 million and acquiring a Grade A office building in London for £353 million (S$657 million), the Reit manager ARA Trust Management (Suntec) said on Tuesday. The Suntec City Office units are being divested at an 8.9 per cent premium over the independent valuation of $180.9 million for the 78,491 sq ft of space.
The London property is The Minster Building, an 11-storey Grade A office development with ancillary retail space built in 1990 and refurbished in 2018.
THE BUSINESS TIMES
