Singaporean real-estate firm CapitaLand will open eight shopping malls next year in three Asian countries.
With a combined retail gross floor area of close to a million square metres, it will be CapitaLand’s largest ever retail-space offering in a single year, the company said yesterday.
Of the eight malls, six will be retail components of integrated developments in China, and there will be one each in Malaysia and India.
The Chinese malls are Raffles City Changning, CapitaLand’s second Raffles City project in Shanghai; LuOne, also in Shanghai; Raffles City Shenzhen; Raffles City Hangzhou; Suzhou Center Mall; and CapitaMall Westgate in Wuhan.
The other two are Melawati Mall in Kuala Lumpur and Forum Mall in Mysore, India, said Jason Leow, CEO of CapitaLand Mall Asia. – The Straits Times

True-China Mobile pact

True Corporation yesterday signed a deal with its 18 per cent strategic partner China Mobile for a cooperation framework agreement, aiming to strengthen their ties, which commenced on September 11, 2014.
The signing, which took place in Thailand, will result in the development of services that will be in line with the industry development and satisfy customers’ demands.

‘Corruption’ in IPO case

The Securities and Exchange Commission has filed a case against Chupong Tanasettakorn, managing director for investment banking at Country Group Securities, accusing him of corruption.
The move followed the SEC’s investigation of Takuni Group’s and CCN-Tech’s initial public offerings in late 2014. It was found that Chupong, then an executive at Country Group Securities, which was the underwriter for the IPOs, breached the Securities and Exchange Act that prohibits sales or allocation of securities to directors, executives and those relevant to the underwriter of the securities.