Company Briefs: Starhill Global Reit

Starhill Global Reit

Starhill Global Reit (SGReit) has sold a property in Tokyo for 2.5 billion yen (S$29.9 million).

The sale of Roppongi Terzo Property, located in the Roppongi district in Minato-ku, was priced at a premium to its latest valuation. It was last valued at 2.44 billion yen and accounted for 32.8 per cent of the Japan portfolio and 0.9 per cent of SGReit's portfolio by asset value.

The sale translates to a yield of 4.4 per cent. As SGReit fully hedges its Japanese assets with yen loans, the net sale proceeds would be used to repay the yen loans as well as for working capital purposes.

Koh Brothers Group

Koh Brothers Group plans to inject its construction arm into Catalist-listed Koh Brothers Eco Engineering (KB Eco) for $19 million under a restructuring exercise.

The acquisition of Koh Brothers Building & Civil Engineering will be funded by the issuance of 369.1 million new KB Eco shares to Koh Brothers Group at 5.15 cents apiece.

Koh Brothers Building does building and civil engineering construction, ranging from design and build to general construction for residential, commercial and institutional buildings, as well as infrastructure works.

Following the sale, Koh Brothers Group will continue to retain full control of its building materials business in addition to businesses under its two other core pillars - real estate, and leisure and hospitality.

Olam International

Global agri-business Olam International and leading French feedstock company InVivo Animal Nutrition & Health have signed a consulting agreement to jointly develop expertise in animal feed in Nigeria.

The two-year consulting services partnership agreement will involve technical assistance and sharing of expertise to jointly develop solutions and products in the animal feed space.

The knowledge transfer between the two companies will help develop solutions, formulate animal feed, characterise raw materials as well as implement research and development trials and protocols to enter the animal feed industry in Nigeria.

As part of the agreement, both companies will tap each other's proven expertise - Olam for its Africa experience and InVivo for its animal feed proficiency.

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A version of this article appeared in the print edition of The Straits Times on January 08, 2016, with the headline Company Briefs: Starhill Global Reit. Subscribe