Article: S'pore group may sell tower to ING

Vasantha Ganesan
New Straits Times
09-10-2008
S'pore group may sell tower to ING
Byline: Vasantha Ganesan
Edition: Main/Lifestyle
Section: Business Times
Type: Company

DUTCH insurer ING has emerged as the front-runner to buy the Menara Standard Chartered on Jalan Sultan Ismail for almost RM300 million, sources said.

A decision and an announcement on the winner may be made as soon as next week, a source told Business Times.
It is believed that the Government of Singapore Investment Corp Real Estate (GIC RE) is selling the office building to ING Real Estate Investment Management.

While it could not be deter-mined how much ING was paying for the property, industry executives estimate it would be ...

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