<div class=newsTextDataWrapInner><p>SINGAPORE (Feb 10): DBS Group Holdings’ wholly-owned subsidiary, DBS Bank, has agreed to sell its entire stake in DBS China Square for S$358 million in cash.</p></div>

<div class=newsTextDataWrapInner><p>DBS China Square owns a 28-storey office building at 8 Cross Street, known as PwC Building. The building was constructed by DBS China Square in 1999, and is held for investment purpose.</p></div>

<div class=newsTextDataWrapInner><p>The buyer is an indirect subsidiary of Manulife Financial Corporation.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>DBS says the consideration was arrived at on a “willing-buyer willing-seller” basis</p></div>

<div class=newsTextDataWrapInner><p>It takes into account the unaudited book value of DBS China Square as at Dec 31 2016. adjusted based on an agreed property value of S$747 million for the building, as well as the repayment by the purchaser of the shareholder’s loan of S$402.6 million to DBS China Square.</p></div>

<div class=newsTextDataWrapInner><p>The sale is expected to be completed by the end of March.</p></div>

<div class=newsTextDataWrapInner><p>Upon completion, the sale is expected to contribute S$350 million to the consolidated net tangible assets, as well as earnings of DBS Group.</p></div>

<div class=newsTextDataWrapInner><p>None of the directors of DBS has an interest, direct or indirect, in the sale.</p></div>

<div class=newsTextDataWrapInner><p>Shares of DBS closed 15 cents higher at S$18.97.</p></div>


SINGAPORE (Feb 10): DBS Group Holdings’ wholly-owned subsidiary, DBS Bank, has agreed to sell its entire stake in DBS China Square for S$358 million in cash.

DBS China Square owns a 28-storey office building at 8 Cross Street, known as PwC Building. The building was constructed by DBS C...

DBS sells PwC Building for S$358 mil

A total of 7,448 job placements for Sabah residents have been successfully implemented as of Sept 27, thanks to various efforts by the government through the Social Security Organisation (Perkeso) and other involved agencies.

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China is studying further trade measures against Taiwan, China's Ministry of Commerce said on Saturday, two days after Beijing denounced a speech by Taiwan President Lai Ching-te.

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China urged the European Union on Saturday not to conduct separate negotiations over the price of China-made electric vehicles sold in the EU, warning that this would "shake the foundations" of bilateral tariff negotiations.

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Executives of some of Britain’s most valuable and fast-growing financial technology firms warned the Labour government that London could fall behind in the fintech world if the UK fails to address some of the industry’s key concerns, including the challenges they see with share listings and regulators’ speed in decision-making.

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The Agriculture and Food Security Ministry (KPKM) guarantees that the rice supply in local markets will not be affected despite the flood situation in Kedah and Perlis, impacting approximately 6,000 hectares of the country's paddy production areas.

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TikTok's move to reduce its employees will not affect its operations and the company is cooperating with the authorities in this country, especially in the aspects of research and screening of content and live sessions.

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The government is expected to allocate a higher development expenditure (DE) of RM94.5 billion in Budget 2025, from RM88.5 billion in 2024’s forecast, to boost infrastructure play, said Kenanga Investment Bank Bhd (Kenanga IB).

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<p>TikTok's move to reduce its employees will not affect its operations and the company is cooperating with the authorities in this country, especially in the aspects of research and screening of content and live sessions.</p>


<p>Avaland Bhd (KL:AVALAND) officially opened the sales gallery of Avenue25 and previewed Tower B of Alora Residences serviced apartments in Subang Jaya, Selangor, on Saturday.</p>


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<p>The government is expected to allocate a higher development expenditure (DE) of RM94.5 billion in Budget 2025, from RM88.5 billion in 2024’s forecast, to boost infrastructure play, said Kenanga Investment Bank Bhd (Kenanga IB).</p>


<p>The Tourism, Arts and Culture Ministry (Motac) has launched an investigation to identify Malaysia My Second Home (MM2H) agents responsible for spreading misinformation regarding the programme.</p>


<p>The King and Queen of Malaysia, Sultan Ibrahim Sultan Iskandar and Raja Zarith Sofiah, will undertake a state visit to Brunei on Sunday until Oct 15, marking the Agong’s inaugural state visit to the sultanate since ascending the throne on Jan 31 this year.</p>


<p>China urged the European Union on Saturday not to conduct separate negotiations over the price of China-made electric vehicles sold in the EU, warning that this would "shake the foundations" of bilateral tariff negotiations.</p>


<p>China is studying further trade measures against Taiwan, China's Ministry of Commerce said on Saturday, two days after Beijing denounced a speech by Taiwan President Lai Ching-te.</p>


<p>Hong Kong’s leader is set to announce measures to bolster the city’s standing as a global financial hub when he makes a key policy address next week, the <em>South China Morning Post </em>reported, citing unidentified sources.</p>


<p>The Malaysia Digital Economy Corporation (MDEC) said it expects to attract export opportunities worth RM300 million from its participation at this year's Gulf Information Technology Exhibition (GITEX) Global and Expand North Star (ENS) in Dubai.</p>


MDEC eyes RM300 mil in export opportunities at GITEX Global tech event in Dubai

<p>The Agriculture and Food Security Ministry (KPKM) guarantees that the rice supply in local markets will not be affected despite the flood situation in Kedah and Perlis, impacting approximately 6,000 hectares of the country's paddy production areas.</p>


<p>Executives of some of Britain’s most valuable and fast-growing financial technology firms warned the Labour government that London could fall behind in the fintech world if the UK fails to address some of the industry’s key concerns, including the challenges they see with share listings and regulators’ speed in decision-making.</p>


<p>A total of 7,448 job placements for Sabah residents have been successfully implemented as of Sept 27, thanks to various efforts by the government through the Social Security Organisation (Perkeso) and other involved agencies.</p>


<p>Japanese Prime Minister Shigeru Ishiba said on Saturday he would not intervene in monetary policy affairs, as the central bank is mandated to achieve price stability.</p>
