The acquisition is worth S$155.1million (US$10million) to Shun Tak’s casino mogul founder, Stanley Ho.<\/p>\n\n\n\n\n\n\n\n
Singapore.- Shun Tak Holdings has acquired a 30 per cent stake in TripleOne Somerset in Singapore previously held by Perennial.<\/p>\n\n\n\n
The acquisition is worth S$155.1million (US$10million) to Shun Tak’s casino mogul founder, Stanley Ho.<\/p>\n\n\n\n
Ho, who owns 19 casinos in Macau, is still active in the business community throughout the Asia Pacific region despite being 98 years of age.<\/p>\n\n\n\n
Perennial has said that the transaction is in line with its “active capital recycling strategy to rebalance its portfolio, enhance its financial flexibility and maximise its returns to shareholders”.<\/p>\n\n\n\n
The real estate player stands to net a pre-tax gain of about S$25million from the deal.<\/p>\n\n\n\n
The transaction is expected to be completed on May 31 or the date falling five business days from the date on which all condition precedents are satisfied.<\/p>\n\n\n\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
The acquisition is worth S$155.1million (US$10million) to Shun Tak’s casino mogul founder, Stanley Ho.<\/p>\n","protected":false},"author":2,"featured_media":3831,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Shun Tak Holdings has acquired a 30% stake in Singapore's TripleOne Somerset from Perennial for S$155.1 million, a transaction benefiting Shun Tak's founder, casino mogul Stanley Ho. Perennial executed this divestment as part of its capital recycling strategy, aiming to rebalance its portfolio and enhance shareholder returns.","focusai_entities":"Shun Tak Holdings, TripleOne Somerset, Perennial, Stanley Ho","focusai_location":"Singapore, Macau, Asia Pacific","focusai_target_profile":"ceo_executive (0.9), investor_analyst (1.0), journalist_researcher (0.8)","focusai_suggestions":[{"label":"Impact on Ho's Portfolio","query":"How does this real estate acquisition by Shun Tak Holdings align with Stanley Ho's broader investment strategy, particularly concerning his extensive gaming interests in Macau?"},{"label":"Perennial's Capital Strategy","query":"What are the anticipated next steps for Perennial's capital recycling strategy following this divestment, and how might this impact its future asset allocation within the Asia Pacific region?"}],"footnotes":""},"categories":[160,157,161,167,16333],"tags":[14863],"class_list":["post-5723","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-business-news","category-daily-news","category-news-region","category-south-east-asia-news","tag-stanley-ho"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/5723","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=5723"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/5723\/revisions"}],"predecessor-version":[{"id":20299,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/5723\/revisions\/20299"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/3831"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=5723"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=5723"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=5723"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}