Daily Briefing: ComfortDelGro held talks with Indonesia's Go-Jek for collaboration; PM appoints new trade minister in Cabinet reshuffle

And here are two sites that launched en bloc sale this week.

From Deal Street Asia:

TechCrunch reported that Go-Jek, Indonesia's ride-hailing giant, held talks with ComfortDelGro for a potential collaboration. The former is looking to fill the void in Southeast Asia that Uber has created after selling its operations in the region to Singapore's Grab.

"Should Comfort agree to team up with Go-Jek, it would replace the partnership it had with Uber sealed in December, which has effectively been annulled following the US firm’s decision last month to sell its Southeast Asia business to rival Grab, the report said.

In February, ComfortDelGro had said in an SGX filing that it remained committed to the partnership with Uber. The ComfortDelGro-Uber deal, which involved the Singaporean firm picking up a 51% stake in Uber’s car rental unit in the city-state, has been under review by the Competition Commission of Singapore (CCS)."

Read more here.

From Bloomberg Finance:

Prime Minister Lee Hsien Loong named a new trade and industry minister in a cabinet reshuffle. Chan Chun Sing will be Minister of Trade and Industry starting 1 May.

"Chan Chun Sing will be Minister for Trade and Industry from May 1, taking on duties currently shared by Lim Hng Kiang, who will step down, and S Iswaran, who will become Minister in Charge of Trade Relations. Chan, who turns 49 this year, will relinquish his position as Minister in the Prime Minister’s Office.

Lee, 66, is devolving more responsibilities from older ministers to the younger ones. Finance Minister Heng Swee Keat will take on the additional job of assisting the prime minister on National Research Foundation matters from Deputy Prime Minister Teo Chee Hean. Chan will take over responsibility for the Public Service Division from Teo."

Read more here.

From PropertyGuru:

Two more sites are looking to ride on the en bloc hype in Singapore. Park House has been put up for sale at a guide price of $308m, whilst St Michael’s Condominium has been tendered for a starting price of $112m.

"Located at the junction of Orchard Boulevard and Tomlinson Road, Park House carries a guide price of $308m. The price reflects a land rate of about $2,387 psf per plot ratio (psf ppr), or a lower $2,170 psf ppr after factoring in the 10 percent allowable bonus balcony space.

Meanwhile, the owners of St Michael’s Condominium are expecting offers of at least $112 million for the 60-unit development. The tenders for St Michael’s Condominium and Park House close on 23 May and 31 May respectively."

Read more here.

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