Straits Trading invests A$119 mil in Sydney office building

SINGAPORE (June 7): A unit of The Straits Trading Company Ltd is investing about A$119 million (RM375.77 million) for a share of an office building located at 320 Pitt Street in Sydney, the group announced yesterday.

The Business Times report quoted the diversified investment company with interests in real estate, hospitality and resources as saying that the acquisition is in line with its strategy of redeploying capital from its existing property portfolio of high quality, but low-yielding investment properties into potentially higher-return real estate opportunities via its subsidiary, Straits Real Estate Pte Ltd.

This article first appeared in The Edge Financial Daily, on June 7, 2017.

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