{"id":60364,"date":"2017-07-11T09:45:18","date_gmt":"2017-07-11T02:45:18","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-sells-50-stake-in-laguna-garden-sims-park\/"},"modified":"2017-07-11T11:09:02","modified_gmt":"2017-07-11T04:09:02","slug":"capitaland-sells-50-stake-in-laguna-garden-sims-park","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-sells-50-stake-in-laguna-garden-sims-park\/","title":{"rendered":"CapitaLand sells 50% stake in Laguna Garden, Sims Park"},"content":{"rendered":"


\nThe two companies developed the Central Grove and Casafina condominiums in Singapore.
\nCapitaLand Limited\u2019s wholly-owned subsidiaries have divested their 50 percent stake in Sims Park Pte Ltd (SP) and Laguna Garden Limited (LG) to existing shareholders for $4 million.
\nIn an SGX filing, CapitaLand revealed that SP and LG are property development companies that developed the condominiums known as Central Grove and Casafina respectively, both of which were completed and fully sold.
\nPrior to divestment, SP and LG raised their respective share capital to $10.8 million and $62.99 million.
\n\u201cFollowing the divestment, LG and SP have ceased to be associated companies of CapitaLand,\u201d the group said.
\nCapitaLand does not expect the transaction to materially affect the group\u2019s net tangible assets or earnings per share for the financial year ending 31 December 2017.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…CapitaLand sells 50% stake in Laguna Garden, Sims Park<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The two companies developed the Central Grove and Casafina condominiums in Singapore. CapitaLand Limited\u2019s wholly-owned...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-60364","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-fHC","jetpack-related-posts":[{"id":71242,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-profit-up-28-1-in-q3\/","url_meta":{"origin":60364,"position":0},"title":"CapitaLand profit up 28.1% in Q3","date":"November 8, 2017","format":false,"excerpt":"\r Funan Mall redevelopment that cost $560m, targeted to be completed in Q4 of 2019. (Photo: Capitaland) CapitaLand saw its net profit for the third quarter of 2017 increase 28.1 percent to $317 million from $247.5 million over the same period last year. It attributed the hike primarily to fair\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":102742,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/debt-laden-conglomerate-hna-sells-space-in-shanghai-tower-to-singapores-capitaland-for-us400-million\/","url_meta":{"origin":60364,"position":1},"title":"Debt-laden conglomerate HNA sells space in Shanghai tower to Singapore\u2019s CapitaLand for US$400 million","date":"January 7, 2019","format":false,"excerpt":"\r The Chinese debt-laden aviation-to-finance conglomerate HNA Group has sold 70 per cent of space in a Shanghai office building to Singapore property giant CapitaLand for 2.75 billion yuan (US$400.5 million), CapitaLand said on Monday. After the transaction, the latest divestment move by HNA, CapitaLand and a joint venture partner\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":44037,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-increases-stake-in-ctd\/","url_meta":{"origin":60364,"position":2},"title":"CapitaLand increases stake in CTD","date":"February 14, 2017","format":false,"excerpt":"\r CapitaLand Limited has increased its stake in CapitaLand-Thien Duc Company Limited (CTD), after its wholly owned subsidiary, CLV Investment 5 Limited, acquired a 20 percent stake in the Vietnam incorporated company for US$17.9 million (S$25.4 million). CTD holds a mixed use development in Ho Chi Minh City known as\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":106875,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-net-profit-drops-7-4-in-q1-2019\/","url_meta":{"origin":60364,"position":3},"title":"CapitaLand Net Profit Drops 7.4% In Q1 2019","date":"May 6, 2019","format":false,"excerpt":"\r Revenue also declined 23.8 percent to $1.048 billion, mainly due to lower contributions from residential projects.\u00a0 CapitaLand saw its net profit drop 7.4 percent to $295.6 million in the first quarter of 2019, from $319.1 million over the same period last year. The decline was attributed to lower operating\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":40872,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-sells-entire-stake-in-nassim-hill-realty-for-411-6m\/","url_meta":{"origin":60364,"position":4},"title":"CapitaLand sells entire stake in Nassim Hill Realty for $411.6m","date":"January 17, 2017","format":false,"excerpt":"\r The sale of Nassim Hill Realty was satisfied entirely in cash, said CapitaLand. CRL Realty, a wholly-owned subsidiary of property giant CapitaLand, has sold its 100 percent stake in Nassim Hill Realty (NHR) to Kheng Leong Company for $411.6 million. In an SGX filing on Monday (16 January), CapitaLand\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1869,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-bolsters-its-foothold-in-the-vietnamese-market\/","url_meta":{"origin":60364,"position":5},"title":"CapitaLand bolsters its foothold in the Vietnamese market","date":"January 18, 2016","format":false,"excerpt":"\r The company now owns 90 percent of a Ho Chi Minh City-based project The Vista | Courtesy of CapitaLand (Vietnam) Singapore\u2019s CapitaLand, through CapitaLand (Vietnam) Holdings, has beefed up its interest in its CapitaLand Vista joint venture by acquiring an additional 10 percent stake from joint venture partner Thien\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2016\/01\/vistamain.jpg?fit=740%2C511&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/60364"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=60364"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/60364\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=60364"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=60364"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=60364"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}