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Daily Briefing: Apple opens first official store in Singapore; Goh and Goh Building gets $101.5m offer

Singapore Business Review
Daily Briefing: Apple opens first official store in Singapore; Goh and Goh Building gets $101.5m offer

And here's what you need to know about Genting's Q1 results.

From AFP via Yahoo!: Apple opened its first Southeast Asia store in Singapore on Saturday, drawing hundreds of excited fans to the swanky two-storey site in the city's upmarket shopping district. Located on the affluent Orchard Road, the new shop -- easily distinguished by its iconic glass facade -- is expected to be one of the most popular Apple stores in the world according to the US tech giant. Merchandise such as the iPhone and MacBook were strategically placed on display across the spacious first floor, while the upper level acted as a classroom for customers to participate in hands-on sessions.

From PropertyGuru via Yahoo!: BBR Holdings (S) Ltd has exercised a call option on Thursday (25 May) to purchase the Goh & Goh Building at Upper Bukit Timah Road for S$101.5 million in cash, revealed an SGX filing posted on the same day. The call option was exercised by Alika Properties Pte Ltd, a 62 percent owned unit of BBR Development Pte Ltd, which in turn is a fully-owned unit of the parent firm. Located near the Beauty World MRT station, Bukit Timah Shopping Centre and Beauty World Centre, the four-storey mixed-use project consists of seven shops on the ground floor and seven apartments on the upper levels.

From Shares Investment via Yahoo!: Resorts World Sentosa is owned by Genting Singapore PLC (SGX: G13), a gaming and integrated resorts developer and operator. Genting Singapore was incorporated in 1984 and listed on the SGX in 2005. Besides Singapore, the group also has a presence in Australia, the Bahamas, Malaysia, the Philippines, and the UK. According to credit rating agency Fitch, gaming revenues continued to slide in 2016 due to a contraction in the VIP segment and expects gaming revenues to remain flat at US$4 billion for 2017. It added that Singapore’s two casinos would face “added competitive pressure” from Macau and the Philippines.



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