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COMMERCIAL PROPERTY, ENERGY & OFFSHORE, HEALTHCARE | Staff Reporter, Singapore
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Daily Briefing: GIC invests in US energy infrastructure Tallgrass Energy; Mixed-use development Selegie Centre sold at $120m

And Singapore-based healthcare startup Docquity bagged US$11m in a series B funding round.

From Reuters:

Sovereign wealth fund GIC, Spanish energy company Enagas and US investment firm Blackstone will team up on a deal for a stake in US energy infrastructure Tallgrass Energy.

Spain’s Enagas will pay, as part of a consortium deal, $590m for a 10.93% indirect ownership interest in U.S. energy infrastructure company Tallgrass Energy (TGE), the company said in a statement on Monday.

Blackstone will retain a majority, GIC will retain a minority stake and Enagas will own almost 25 percent of the holding company at closing.

Read more here.

From PropertyGuru:

Mixed-use development Selegie Centre has finally been sold at its $120m reserve price, or $1,942 psf per plot ratio (psf ppr), following two failed en bloc attempts.

This means apartment owners at the 30-year-old development in District 7 will receive around $1.7m, whilst shop owners will receive between $1m and $12m, depending on their unit size, revealed sales committee chairman M. Thomas.

Located at the junction of Mackenzie and Selegie roads, bordering the central business district, the freehold property features 25 apartment units and 33 shops. The 10-storey development, which was marketed by Property Link Services, is also within walking distance to the Rochor, Little India and Dhoby Ghaut MRT stations.

Read more here

From Tech In Asia:

Singapore-based healthcare startup Docquity bagged US$11m in a series B fundraising, led by Itochu Corporation Japan. Existing investors SPH Ventures and KDV Holdings, as well as Joe Hirao, CEO of ‘life media’ company Zigexn Japan, joined in the funding round.

The company plans to launch Dx, a specialised clinical search engine for doctors that uses machine learning algorithms to categorise key discussion points. It plans to fully launch the platform mid-2020.

Docquity previously raised US$2 million in a series A funding round led by Genesia Ventures in July 2018.

Read more here.

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