In today’s roundup of regional news headlines, logistics giant ESR is said to be in talks to acquire eight projects in India, two South Korean firms are close to a deal to buy a French warehouse portfolio, and Microsoft announces a billion-dollar data centre investment in Malaysia.
Hong Kong-listed logistics platform ESR is in talks to acquire at least eight new warehousing projects in India, and these transactions are expected to be concluded over the next year, said a top company official.
New additions will mostly be greenfield land acquisitions alongside about 6 million square feet (557,418 square metres) of projects. The latter will be operational by the end of this year, with an objective of at least 25 percent annual growth. Read more>>
South Korea’s Mastern Investment Management and Kiwoom Securities are in the due diligence process to acquire six last-mile logistics centres under construction in France for a combined KRW 250 billion ($225 million).
The two companies sent their employees to Europe last weekend to conduct due diligence on the facilities, according to the company and industry sources on 20 April. They plan to acquire them upon completion of construction. Read more>>
Macquarie Infrastructure and Real Assets acquired Hindustan Project’s solar assets in 2016. Now, Macquarie is set to sell the same 450MW installed in Gujarat for $300 million.
The proposed sale hasn’t started yet. But the Indian solar power tariff has reached a new low of INR 1.99 ($0.03) per unit, thus resulting in power procurement curtailment, a problem for India’s clean energy sector. Furthermore, delayed payments are an issue. Read more>>
Microsoft Corporation will invest $1 billion over the next five years in Malaysia as part of a new partnership programme with government agencies and local companies, the country’s prime minister said on Monday.
The news of what would be the US tech giant’s biggest investment in Malaysia comes after the country in February gave conditional approvals for Microsoft, Google, Amazon and state-run Telekom Malaysia to build and manage hyperscale data centres and provide cloud services. Read more>>
WeWork, which had one of the most spectacular IPO implosions in recent years, is trying to go public again — and some of the factors that worried regulators the first time are back again.
WeWork isn’t doing an initial public offering this time, but rather merging with a special purpose acquisition company. Rules around SPACs are looser than for IPOs, giving WeWork more leeway to tout its future. Read more>>
Far East Hospitality has inked a new partnership in Indonesia as part of a larger plan to increase its footprint within the region.
The group on Tuesday announced that it has teamed up with Artotel Group, an Indonesian boutique hospitality and lifestyle group, in a strategic alliance agreement. Under the terms of the partnership, both sides will collaborate across operations, branding and training, as well as support business growth across markets. Read more>>
Integrated resort operator Lasseters International Holdings on Tuesday proposed to dispose of its Australian assets and business for A$105 million ($81.6 million), an amount nearly six times that of the group’s market capitalisation.
The group’s wholly-owned subsidiaries Ford Dynasty and Lasseters Health Club on Monday entered into various agreements with companies under Sydney-based Iris Capital, an integrated development and hospitality group. Read more>>
Investment in commercial properties worth more than HK$20 million ($2.6 million) increased by 22.6 percent from the year before to HK$12.5 billion in the first quarter, JLL announced.
About 57 percent of investment in commercial properties worth HK$100 million or above was attributed to retail properties. Read more>>