Company Briefs: GIC

GIC

GIC has acquired a Grade A office tower, PB6, in Paris for an undisclosed amount.

Located in the La Defense business district, PB6 is a 40-storey asset with 60,000 sq m of prime office space and is fully leased to French electric utility company EDF.

GIC said: "The asset presents attractive value-creation opportunities, which GIC expects to capture by investing to enhance the asset and service offering. This is in line with GIC's strategy, as a long-term investor, to acquire and add value to quality assets in gateway cities."

The asset will be managed by BauMont Real Estate Capital.


Keppel Corp

Keppel Corp is adding three new independent directors to its board.

With effect from Jan 2 next year, the Keppel board will comprise 11 directors, of whom 10 are independent directors.

Mr Teo Siong Seng, 64, executive chairman and managing director of Pacific International Lines (PIL), will join the board from Nov 1.

PIL is one of the largest shipowners and operators in South-east Asia with a focus on Asia-Africa and the Middle East, Keppel said.

Mr Teo is also chairman of the Singapore Business Federation, honorary president of the Singapore Chinese Chamber of Commerce and Industry, a director of Business China and honorary consul of the United Republic of Tanzania in Singapore.

Mr Tham Sai Choy, 59, will join the Keppel board from Nov 1. He was managing partner of KPMG Singapore and then chairman of KPMG Asia-Pacific before he retired in 2017.

He worked with many of Singapore's listed companies in their audits and other consultancy work over his 36 years of practice.

He also chairs the Singapore Institute of Directors and serves on the boards of the Accounting and Corporate Regulatory Authority, the Housing Board and DBS Group.

Mrs Penny Goh, 66, co-chairman and senior partner of Allen & Gledhill, who also heads the law firm's corporate real estate practice, will join the Keppel board from Jan 2 next year.

She has been chairman of Keppel Reit Management, the manager of Keppel Reit, since April 2017. She will be redesignated as non-independent chairman of Keppel Reit Management.

A version of this article appeared in the print edition of The Straits Times on October 19, 2019, with the headline 'Company Briefs'. Print Edition | Subscribe