An agreement to establish an IATA Regional Aviation Training partnership in Bangkok has been signed between the Bangkok Air Aviation Training Centre Co Ltd ( BATC), and the International Air Transport Association (IATA).
A subsidiary of Bangkok Airways Public Co Ltd, BATC is the first and only Thai company to be appointed as an aviation training partner by IATA, in an effort to raise the standard of aviation training to an international level. The training centre will provide instruction in classroom and online, using a variety of the latest instruction media, so learners can gain both theoretical and practical knowledge. The move is expected to further enhance and develop the aviation industry in the region.
CAPITALAND UNIT EYES
S$1.5 BN DUO TOWER
CapitaLand Commercial Trust, Singapore's biggest office landlord, is among suitors in talks about a potential acquisition of the Duo office and retail development in the city, people with knowledge of the matter said.
The real estate investment trust has been negotiating the purchase of a 39-story office building called Duo Tower, along with the connected Duo Galleria mall, according to the people. The property could be valued at more than S$1.5 billion, one of the people said, asking not to be identified because the data is private.
Other parties also remain interested in the asset, which is located in the Bugis area on the fringe of Singapore's central business district, the people said. The project's owner is separately seeking a buyer for the hotel portion of the development in a deal that could fetch as much as $500 million, according to the people.
The development is owned by M+S Pte, a joint venture set up in 2011 between Malaysian sovereign fund Khazanah Nasional Bhd and Singapore state investment firm Temasek Holdings. No final agreements have been reached, and there's no certainty the talks will result in a transaction.
Singapore's strong office rental growth is expected to extend into 2019, driven by limited new completions and a strong labor market, according to Bloomberg Intelligence. The supply of new office space in the city-state will shrink to a 12-year low in 2019, Bloomberg Intelligence analysts wrote in December. – The Straits Times
FINTEC GLOBAL BUYS
ZOUK CLUB KL
Malaysia’s Fintec Global Bhd has agreed to acquire a 75 per cent equity interest in Zouk Club (KL) Sdn Bhd for 28.95 million ringgit.
"The proposed acquisition will result in Fintec acquiring a well-established, profitable, self-sustaining entity that is ranked No 1 club in Malaysia and top 3 in Asia according to the magazine, DJ Mag," it said in a filing with Bursa Malaysia today.
The acquisition will also broaden up the group's F&B investments, as well as to provide avenues for the group to establish commercial deals that may be beneficial to its other investments.
The company said the purchase price was arrived at on willing-buyer willing-seller basis, after taking into account the goodwill value attached to the Zouk brand, its uninterrupted profit track record and the audited net assets of RM25.6mil as at Dec 31, 2017. – The Star