Companies have ramped up their geographical diversification efforts in recent months in a bid to escape Singapore’s prohibitive property cooling measures.
In the opening weeks of January alone, Aspial Corp unveiled two acquisitions in Australia, Keppel Land agreed to purchase land in Indonesia and CapitaLand Ltd picked up yet another plot in China.
Australia, the United Kingdom and the United States have been companies’ favourite hot spots. Several companies, including Hiap Hoe, AIMS AMP Capital Industrial REIT , Aspial, and Suntec REIT, picked Australia for their first overseas acquisitions.
NOTE: Reuters has not verified this story and does not vouch for its accuracy. (Compiled by Singapore Newsroom; Editing by Anand Basu)