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DBS Group Research (BT)

BackNov 12, 2009

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Singapore Press Holdings

Nov 11 close: $3.74

DBS GROUP RESEARCH, Nov 11

SPH, in a joint venture with NTUC, submitted the highest bid of $541.9 million (amongst six bidders) for a 25,000-square metre gross floor area (GFA) shopping mall at Clementi, in a tender that closed on Nov 10. The bid of $541.9 million was above market expectations and is some 42 per cent higher than the second bid of $382 million.