News

Commercial Property

Staff Reporter

, Singapore

Published:

9 years ago

Should Sheng Siong fear Lum Chang's acquisition of The Verge?

Its lease is set to expire by March 2017.

Lum Chang Holdings' planned acquisition of The Verge commercial site might be bad news for Sheng Siong Group as its branch in the mall is feared to close.

It was recently reported that a joint venture between Lum Chang Holdings and a fund of LaSalle Investment Management Asia had signed an agreement to buy The Verge.

According to OCBC Investment Research, Sheng Shiong has stores in The Verge which has a lease slated to expire by March 2017.

"With this looming, we keep in mind that this store’s same store sales growth has been relatively weak in the past few years mainly due to the construction works in the vicinity," the report stated.

However, while the closure of the store is likely to happen because of the acquisition, the report underscored that revenue contribution from the outlet has not made any serious impact.

"We believe that revenue contribution has not been significant, but opt to wait for
further clarity on this development before adjusting our estimates," OCBC said.

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia

Top News

Singapore’s AI tool analyses heart attack damage within one minute

Cardiovascular disease is the leading cause of death in Singapore.

Healthcare

34 minutes ago

Surbana Jurong begins global CEO search as Sean Chiao retires

He will retire on 31 July after leading the group for more than three years.

Building & Engineering

46 minutes ago

Prime office space tightens despite overall gains

CBD Grade A rents rose 1.1% as vacancy hit a nine-quarter low.

Commercial Property

1 hour ago

Keppel faces $165m in Jakarta land claim in Supreme Court

The fresh appeal follows two rulings backing Keppel's Indonesian unit.

Professional Services/Legal

1 hour ago

Exclusives

Monday.com picks Singapore for Southeast Asia expansion

Its in-house designers created Singapore-inspired artwork in the company's colors.

2 days ago

Tsuklio targets dual-income families in Singapore expansion

The Japanese meal subscription platform logged 3,000 pre-registrations before launch.

Food & Beverage

4 days ago

Firms cut senior hiring costs with fractional executives

$Firms cut senior hiring costs with fractional executives$

Firms cut senior hiring costs with fractional executives

Companies report 50% to 70% lower costs than full-time senior hires.

HR & Education

5 days ago

Choosier Asia buyers steer auctions toward rare art

Collectors are bidding harder for works with clear ownership histories.

6 days ago

Event News

Co-Written / Partner Finweek KL 2026: Where European capital meets ASEAN scale

The premier EU–ASEAN institutional fintech summit brings 1,000+ delegates to PARKROYAL Collection Kuala Lumpur on 11 to 13 November 2026 for three days of cross-border deal-making.