SINGAPORE, Sept 5 Singapore's Straits Trading Co
Ltd plans to sell an office building in the bustling
financial district for S$450 million ($359 million), the company
said on Friday.
Straits Trading, with a market value of $946 million, has
business interests in tin smelting, property investment and
management. It was founded in the late 19th century.
It plans to sell the 28-floor Straits Trading Building to
Sun Venture group, a subsidiary of Legend Investment Holdings
Ltd, a private company based in Hong Kong, the company said in a
The transaction awaits the approval of Straits Trading's
Straits Trading said the sale was in line with its strategy
to redeploy capital from high-quality, low-yielding investment
properties to real estate opportunities with potentially higher
($1=1.2542 Singapore dollar)
(Reporting by Rujun Shen; Editing by Clarence Fernandez)