Keppel, the conglomerate, has increased its acquisition of Singapore Press Holdings (SPH), but excluding its media business, which has intensified the competition with state-owned investor Temasek Holdings for control of media and real estate companies. Purchase war.

Singapore’s Keppel stated in a statement late on Tuesday (November 9) that it is now offering SPH shareholders an offer of S$2.351 per share in the form of cash plus shares, which is higher than its original offer of S$2.099. , And the bid is higher than the S$2.1 per share of the Temasek-related consortium.

A few weeks ago, the consortium Cuscaden Peak made a higher offer to Keppel, intensifying the bidding war among investors who are concerned about SPH real estate assets, including shopping malls, student dormitories and elderly care facilities.

Keppel’s revised offer is “final and will not increase” and includes increasing the cash portion of the offer by S$20 per share and valuing SPH at S$3.74 billion (US$2.77 billion).

“Although we think this is an attractive acquisition, Keppel will maintain discipline. We will not acquire Newspaper Holdings at all costs and made it clear that this is the ultimate consideration,” said Keppel CEO Luo Zhenhua.

He added: “If the transaction is completed, SPH shareholders can receive the consideration before mid-January 2022.”

Keppel’s revised bid represents an 8.8% premium to Newspaper Holdings’ last closing price of SGD 2.160.

Since the offer was made in late October, SPH has been cooperating with Cuscaden, acknowledging Keppel’s revised bid in a separate statement, and stated that it will hold a planning meeting before December 8 to allow shareholders to decide on the revised bid.

Newspaper Holdings holds shares in several shopping malls in Singapore and Australia, has its own student dormitories in the UK and Germany, a private nursing home in Singapore, and elderly care assets in Japan.

Singapore: The Court of Appeal suspended the execution of a Malaysian drug dealer on Tuesday (November 9) because he tested positive for COVID-19.

Nagaenthran Dharmalingam has been on death row for 11 years. He was briefly taken to the pier to try to oppose his death sentence for the last time.

However, he was later taken away and a judge notified the court that Naganslan had tested positive for COVID-19.

Justice Andrew Phang, who appeared in court with other judges Judith Prakash and Kannan Ramesh, said “this is quite unexpected.” He said that the court held that it was inappropriate to proceed “in view of the circumstances at the time.”

“The execution is scheduled for tomorrow,” Judge Peng said. “…If the applicant is affected by COVID-19… we believe that the death penalty cannot be executed anyway.”

The prosecutors stated that they had only heard of the developments and needed instructions.

“I think we must use logic, common sense and humanity here,” Judge Peng said. He postponed the hearing to an undetermined date and suspended execution until the end of the proceedings.

Hearing background
Lawyer M Ravi took over the 33-year-old Nagaenthran case 11 hours before the scheduled hanging on Wednesday.

On Monday, his court’s application for judicial review of the case on the grounds of Nagaenthran’s so-called mental disability was rejected, but the judge granted him a stay of execution until Mr. Ravi appealed the rejection.

The case is progressing rapidly, and the appeal is scheduled to be heard in the Supreme Court on Tuesday afternoon. The court is crowded with foreign media and local activists.

After the suspension was announced, someone saw Mr. Ravi hugging a lawyer.

No other details were provided about when Nagaenthran tested positive for COVID-19. CNA has contacted the Singapore Prison Service for more information.

Nagaenthran was sentenced to death in 2010 on the charge of importing 42.72 grams of heroin onto his lap in 2009 and importing it into Singapore. He failed to appeal to the High Court in 2011, to the Supreme Court in 2019, and to petition the President for leniency.

With the imminent execution of Nagaenthran, the case has attracted international attention. As of Tuesday, the online petition against his death penalty attracted approximately 70,000 signatures and was reported by international media.

According to a report by Bernama, it is reported that the Prime Minister of Malaysia has sent a letter to the Prime Minister of Singapore on this matter. Richard Branson, the founder of human rights organizations and Virgin Group, also weighed this issue.

Singapore: Singapore Enterprise Development Council (ESG) Tuesday (November 9).

At the same time, Russian start-ups and SMEs will be able to use Singapore as a springboard to explore opportunities in Southeast Asia.

Minister of Trade and Industry Yan Jinyong announced the expansion of GIA in a keynote speech during Singapore Innovation and Technology Week, a plan to develop cross-border partnerships.

Mr. Edwin Chow, Assistant CEO of ESG Innovation and Enterprise, said: “As Moscow joins our GIA network, Singapore start-ups and SMEs will be able to obtain innovation and business partners as they expand into Russia and other regions.

“We also welcome Russian and other global start-ups through this program to use Singapore as a base to open up the Southeast Asian market.”

ESG said that Singapore companies are showing increasing interest in business opportunities in Russia.

The agency stated: “In 2020, more than 30 Singapore companies participated in Russia-related corporate innovation calls and business matching activities organized by ESG and our partners.”

ESG added that Russia’s entrepreneurial ecosystem has grown steadily, with total investment increasing from US$768 million in 2018 to US$868 million in 2019.

ESG stated that it plans to launch a “two-way acceleration plan” in cooperation with designated GIA partners, and more details will be announced later.

“These programs will help Singapore companies in different technology industries have a deeper understanding of Russian business regulations and culture, meet potential partners and enter the market; and cooperate with foreign companies to develop business in Singapore and establish new partnerships in Southeast Asia. ,” ESG said.

ESG stated that despite the impact of the COVID-19 pandemic, since 2020, the GIA acceleration program has more than 300 participants.

With Moscow joining GIA, the network is now in 16 cities around the world. Other GIA cities include Bangalore, Jakarta, London, San Francisco, Shanghai and Tokyo.

Singapore: The Land Transport Authority (LTA) stated in a press release on Monday (November 8) that the construction of the Aviation Park Station is expected to begin in the first quarter of 2022, and passenger services will begin in 2030.

The station is located beside Changi Coast Road and Aviation Park Road.

Fuliansheng Infrastructure has been awarded a contract for the design and construction of the Aviation Park station and tunnel, with a contract value of S$320 million.

According to the Land Transportation Bureau, the company “has a good track record in undertaking infrastructure and construction projects in Singapore” and has previously participated in the construction of the Jinchuan Depot on the Circle Line (CCL) and the Marina Bay Station along the CCL. It is currently involved in the construction of Maxwell Station along the Thomson-East Coastline (TEL).

“The ground conditions in this area are expected to be challenging because they consist of thick layers of seafloor clay,” LTA said.

“In the construction of retaining and stabilizing structures and deep foundation pits, safety measures will be taken to ensure the stability of the ground and surrounding structures.”

Given its proximity to the Changi Airport compound, these projects will be carried out in strict compliance with regulations, including aviation altitude restrictions.

The authorities stated that LTA and the contractor will closely monitor the project to ensure safe progress.

Tunnel between Tampines North Station and DEFU Station
LTA also announced on Monday that it has awarded another civil contract for the design and construction of the first phase of the cross-island line (CRL1).

In addition to the contract for the design and construction of the Aviation Park Station, Nishimatsu Construction also won a civil construction contract worth S$446 million for the design and construction of the bored tunnel between Tampines North Station and Telford Station.

The contract includes the construction of a facility building with a basement to meet the electrical and mechanical requirements of CRL1. Construction of the bored tunnel is expected to start in December 2021.

A tunnel boring machine with a diameter of 12.6 meters is the largest tunnel boring machine in Singapore’s history and will be used to construct a 2.9 km long tunnel with two tracks. The tunnel will be about 35m below ground level and about 50m at its deepest point.

LTA stated: “Nishimatsu Construction is an established company with a good track record in undertaking infrastructure, construction and tunnel projects at home and abroad.”

“It has built a tunnel between Ubi and Kaki Bukit stations along DTL, and a receiving tunnel from DTL to the Dacheng Facility Building. It is currently participating in the construction of TEL’s Marina Bay Station and CCL’s Keppel Station.”

The authorities stated that LTA and the contractor will closely monitor the progress of the tunnel boring machine and ensure that all works are carried out in a safe and timely manner, with minimal impact on existing structures, including shophouses in the area.

CRL is Singapore’s eighth subway line. It will serve the existing and future development of the eastern, northeastern and western corridors, connecting major hubs such as the Jurong Lake District, Punggol Digital District and Changi District.

CRL will use nearly half of the stations as intersections with other railway lines.

The first phase of the CRL is 29 kilometers long and includes 12 stations from Aviation Park to Bright Hill. This will serve residential and industrial areas in Luoyang, Tampines, Pasir Ris, Defu, Hougang, Serangoon North and Ang Mo Kio.