Singapore Press: More companies venturing into overseas property - Business Times

Hiap Hoe

03/02/2014 24:31

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  ASPA.SI  unveiled two acquisitions in Australia, Keppel Land  KLAN.SI  agreed to purchase land in Indonesia and CapitaLand Ltd CATL.SI  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  HIAP.SI , AIMS AMP Capital Industrial REIT AART.SI , Aspial  ASPA.SI , and Suntec REIT  SUNT.SI , picked Australia for their first overseas acquisitions. (http://link.reuters.com/gup56v) NOTE: Reuters has not verified this story and does not vouch for its accuracy. (Compiled by Singapore Newsroom; Editing by Anand Basu) ((laura.philomin@thomsonreuters.com)(+65 6403 5659)(Reuters Messaging: laura.philomin.thomsonreuters.com@reuters.net)) Keywords: SINGAPORE PRESS/PROPERTY