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AVIATION, MARKETS & INVESTING, RESIDENTIAL PROPERTY | Staff Reporter, Singapore
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Daily Briefing: Software bug reveals over 280 KrisFlyer members' details and travel history; developer Allgreen Properties previews its first major project launch in 2019

And real estate investor ARA Asset Management jointly acquires office property with UK property group.

From Deal Street Asia:

Real estate investment firm ARA Asset Management jointly acquired the Manulife Centre office building at Bras Basah Road with UK property group Chelsfield Asia.

The joint purchase was done via one of ARA’s private real estate funds and Chelsfield Asia’s vehicle Chelsfield Asia Fund 1, an announcement said

The financial terms of the deal have not been disclosed.

However, according to reports in July last year at the time of due diligence, the price of the asset was pegged at $550m (US$367m). The building was earlier jointly owned by a Keppel Corp fund and Singapore-listed property developer City Developments. With the purchase, the joint venture aims to re-position the asset into a unique lifestyle-based workplace leveraging on the vibrant neighbourhood and unlock potential upside through positive rental reversion, ARA said.

Read more here.

From Channel News Asia:

More than 280 KrisFlyer members had their details and travel history disclosed to other members thanks to a software bug caused by a change to the Singapore Airlines’ (SIA) website homepage.

SIA said there were 284 such cases in total. Of these, 277 may have seen another customer's passenger's name, email address, account number, membership tier status, total KrisFlyer miles, recent miles transactions, upcoming flights and KrisFlyer rewards.

In the remaining seven cases, the passenger's passport details may have been disclosed as well.

These details would have been exposed if two members had been logged in to their KrisFlyer accounts and were accessing transactions displaying member info at the same time. They also had to be assigned the same server by the system, SIA said.

Read more here.

From PropertyGuru:

Developer Allgreen Properties previewed its first major project in 2019 Fourth Avenue Residences which is a luxury condominium situated in the heart of Bukit Timah in District 10.

Aside from being close to The Grandstand mall, the project is also within proximity to several established schools such as Nanyang Primary School, Hwa Chong Institution and National Junior College.

Fourth Avenue Residences will comprise 476 residential units spread across nine low-rise blocks. Buyers can choose from six different layouts ranging from one-bedroom to 4-bedroom + study units from 474 sq ft to 1,496 sq ft.

Many of the buyers are expected to be existing residents of Bukit Timah as well as wealthy millennials, with indicative prices ranging from about $1.05m to $3.38m.

Read more here.

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