Daily Archives: 21 Oct 2009

Straits Trading Co reorganises hospitality assets under one unit

Posted on 21 Oct 2009 | Comments Off on Straits Trading Co reorganises hospitality assets under one unit

Mainboard-listed Straits Trading Company said it’s reorganising its hospitality assets under one unit.

It has set up a wholly-owned subsidiary called Rendezvous Hospitality Group, or RHG, which will own hospitality assets in excess of S$300 million.

These include 13 hotels currently under management and four additional properties under development.

It has appointed Iqbal Jumabhoy as the CEO of this new unit.

He will be responsible for driving growth plans and expanding RHG’s footprint beyond its current Australia and New Zealand base. Continue reading →

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Posted in Developers

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HDB clarifies it cannot interfere in sale of privately-owned wet markets

Posted on 21 Oct 2009 | Comments Off on HDB clarifies it cannot interfere in sale of privately-owned wet markets

The Housing and Development Board (HDB) has said it cannot take over the wet markets owned by private operators or interfere with the commercial negotiation between the new owner and the stallholders when such wet markets change hands.

The HDB also cannot “impose new requirements that are more stringent on the new owner, compared to those already imposed on the existing one”.

HDB said this in a statement on Wednesday in response to recent media reports on the concerns of some stallholders affected by the sale of five wet markets owned by a commercial operator.

These five markets are located in Choa Chu Kang Street 62, Choa Chu Kang Avenue 1, Serangoon Avenue 3, Bukit Batok West Avenue 8 and Fajar Road.

Some of the stallholders have asked the government to intervene so that they can retain their stalls at current rents after the change in the commercial owner of the wet markets. Continue reading →

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Posted in HDB

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