Singapore Shopping Centre

Singapore Shopping Centre has put itself on the collective sale market with a reserve price of $255 million.

The seven-storey retail and office development, located at 190 Clemenceau Avenue opposite Dhoby Ghaut MRT station, spans a land area of 2,449.8 square metres. It is zoned for commercial use under the Urban Redevelopment Authority's Draft Master Plan 2019 with a plot ratio of 4.2+.

The development also has a "prominent triple-road frontage onto Clemenceau Avenue, Penang Road and Penang Lane", said marketing agent SRI.

Mr Andy Gan, head of investment sales at SRI, said the area is "poised for a major rejuvenation with the redevelopment of Park Mall just across the street".

Mr Tony Koe, the realty firm's managing director, highlighted proposed plans by the authorities to pedestrianise part of Orchard Road and connect green spaces at the Istana Park, Dhoby Ghaut Green and the open space at Plaza Singapura. The tender closes on Sept 9.

Keppel

Keppel Offshore & Marine has secured contracts from repeat customers worth about $130 million for a newbuild dredger and the modification of a floating production storage and offloading vessel.

The first contract, between wholly owned subsidiary Keppel Fels and Van Oord, involves building a high-specification trailing suction hopper dredger that will have a hopper capacity of 10,500 cubic metres. It is expected to be completed in the first quarter of 2022.

The dredger is equipped with a climate control system which utilises the vessel's existing cooling and heating sources to recycle energy, as well as automation systems.

The second contract is between wholly owned subsidiary Keppel Shipyard and Yinson Nepeta Production, a wholly owned subsidiary of Yinson Production.

It is for the fast-track modification and upgrading of a floating production storage and offloading vessel. Keppel Shipyard will carry out refurbishment and life extension works, and fabrication and installation of a new riser balcony, among other things.

The project for Yinson should start in the third quarter of this year, with delivery expected in the first quarter next year.

The vessel will have a storage capacity of 700,000 barrels of oil and a processing capacity of 60,000 barrels of oil per day.