Friday, November 30, 2012

Tuan Sing

Tuan Sing: has formally commenced the redevt of Robinson Towers, the annex and the immediately adjacent International Factors Building as a single commercial / office devt in the prime CBD. Today, tenants will be served with termination of lease notices of 6mths. The proposed redevt on the 1,725 sm site will comprise a grade A office tower with retail podium at total gfa of ~23,900 sm. The building is expected to be completed in 2016. The news is not entirely new, as over the past mths, Tuan Sing has been seeking regulatory approval and planning for the building redevelopment. Nevertheless, analysts have in the past highlighted that this could be a key catalyst to boost Tuan Sing's NAV. The stock is +3.3% at $0.315.

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