Company Briefs: GuocoLand


GuocoLand announced yesterday that international hotel group AccorHotels will relocate its Asia-Pacific headquarters to Tanjong Pagar Centre.

The integrated mixed-use development will receive its Temporary Occupation Permit in July.

AccorHotels will also operate the new five-star Sofitel Singapore City Centre at the development.

Tanjong Pagar Centre, which sits above the Tanjong Pagar MRT, is made up of 890,000 sq ft of office space, a 100,000 sq ft retail component, 181 units of apartments, the 222-room Sofitel Singapore City Centre as well as a 150,000 sq ft urban park.

Keppel Corporation

A unit of Keppel Corporation has been awarded an offshore and marine project worth more than 500 million real (S$184 million) by a repeat customer.

Modec Offshore Production Systems (Singapore) has contracted a floating production storage and offloading (FPSO) module fabrication and integration project to Keppel Offshore & Marine through its subsidiary, Keppel Fels Brasil's BrasFels shipyard, said KepCorp yesterday.

BrasFels' work scope for this project comprises the fabrication and integration of nine topside production modules for the FPSO Cidade de Campos dos Goytacazes MV29.

The vessel is expected to arrive at the shipyard by the first quarter of next year for the integration phase.

When completed, it will have the capacity to process 150,000 barrels of oil per day and five million cubic metres of gas per day. The unit's storage capacity is 1.6 million barrels of oil.

OUE Hospitality Trust

OUE Hospitality Trust (OUE H-Trust) said yesterday that its rights issue, which closed on Monday, was nearly 140 per cent subscribed.

OUE H-Trust is a stapled group comprising OUE Hospitality Real Estate Investment Trust (OUE H-REIT) and OUE Hospitality Business Trust (OUE H-BT).

It had announced in March that the rights issue was to raise $238.6 million to fund the acquisition of the Crowne Plaza Changi Airport Extension.

The rights stapled securities will be listed and quoted on the Singapore Exchange mainboard with effect from 9am on April 13.

A version of this article appeared in the print edition of The Straits Times on April 07, 2016, with the headline 'CompanyBriefs'. Subscribe