CPF sells Head Office Building for $550 million, they must be going broke, need money

[Papsmearer]

CPF Building sold for S$550m to Ascendas Land company

The public tender for the sale of the building attracted three bids, the highest of which was by Southernwood Property, a company wholly owned by Ascendas Land.

SINGAPORE: The landmark CPF Building at 79 Robinson Road has been sold for a higher-than-expected S$550 million, the CPF Board announced on Thursday (Nov 26).

The public tender for the sale of the building attracted three bids, the highest of which was by Southernwood Property, a company wholly owned by Ascendas Land.

Analysts had expected the building to fetch about S$450 million.

The CPF Board said the bid from Southernwood Property met all tender criteria, "including the strength of their financial standing and purchase conditions such as the assignment of tenancies to the new owner".

The other two bids were S$538.28 million by Leapford, a company owned by Pacific Century Regional Developments, and S$280 million by OUE Reef Development.

An earlier report quoted the building’s marketing agent CBRE as saying that it could be redeveloped into a mixed use development with office, retail and serviced apartments or a hotel, subject to approval from authorities.

The CPF Board will be moving to Novena Square Towers “to free up prime office space in the Central Business District for higher-value uses”. Its corporate operations relocated on Nov 23.

The CPF Service Centre will continue to operate at 79 Robinson Road until further notice

 

[Narong Wongwan]

Re: CPF sells Head Office Building for $550 million, they must be going broke, need m

This OUE put in a bid that's only half the value. Tikum tikum?

 

[Papsmearer]

Re: CPF sells Head Office Building for $550 million, they must be going broke, need m

This OUE put in a bid that's only half the value. Tikum tikum?

LOw ball bid lah. No unusual. Question is where is all the money going?

 

[Papsmearer]

Re: CPF sells Head Office Building for $550 million, they must be going broke, need m

Since CPF is a Fifth Schedule entity, any surplus they have is given over to the reserves to be managed by Temasek. Is this not so? Did Temasek trigger the sale of the Head Office so as to get more gambling money for WHore Jinx?

 

[virus]

Re: CPF sells Head Office Building for $550 million, they must be going broke, need m

pok kai boh lui liaoz.....

 

[tun_dr_m]

Re: CPF sells Head Office Building for $550 million, they must be going broke, need m

It is called The Liquidation Time.

Kiss your assets good bye.

 

[eatshitndie]

Re: CPF sells Head Office Building for $550 million, they must be going broke, need m

no point for cpf to occupy prime land. its head office should be relegated to ah beng heartland.

 

[virus]

Re: CPF sells Head Office Building for $550 million, they must be going broke, need m

no point for cpf to occupy prime land. its head office should be relegated to ah beng heartland.

Wicked Lim will tell chiu it is about integrity. When you go to ah Beng heartland n shit bombs flys from upper floor you know that even the surgeon will not operate on you. Let alone clean your shit.

 

[Brightkid]

Re: CPF sells Head Office Building for $550 million, they must be going broke, need m

This OUE put in a bid that's only half the value. Tikum tikum?

No la. If invited to bid, die die must give face as CPF belongs to Govt and Temasick mah. If no bid, next time hard to win any business from them la. Low bid so not to win project mah.

no point for cpf to occupy prime land. its head office should be relegated to ah beng heartland.

Now is time to sell all fixed assets, collect all $ and transfer it out. Just rent the new premise can already. So when time to run road, just pack up and disappear and not leave any cents behind. Only the landlord left with uncompleted lease only and the employees left with the furnitures as their salary mah. Thats what many small shops do right?

 

[frenchbriefs]

Re: CPF sells Head Office Building for $550 million, they must be going broke, need m

cpf building should be located in hell since thats where u have to go in order to access ur cpf funds and in order to get there u must take a elevator 18 stories underground guarded by two door watching trolls,inside u must speak to a evil fat cat whose pasttime is sharpening his claws on helpless human beings and also the director of human resource department.

 

[nayr69sg]

Re: CPF sells Head Office Building for $550 million, they must be going broke, need m

cpf building should be located in hell since thats where u have to go in order to access ur cpf funds and in order to get there u must take a elevator 18 stories underground guarded by two door watching trolls,inside u must speak to a evil fat cat whose pasttime is sharpening his claws on helpless human beings and also the director of human resource department.

Must go to hell to get CPF funds? No lah. LOL!

 

[eatshitndie]

Re: CPF sells Head Office Building for $550 million, they must be going broke, need m

your minimum sum will be kept deep in the vaults of valhalla, cum hell or high water.

 

[shittypore]

Re: CPF sells Head Office Building for $550 million, they must be going broke, need m

It is called The Liquidation Time.

Kiss your assets good bye.

Sinkies only hve two balls with loads of debts, wat assets? Some even claimed tat Sinkies are Ballless dont believe ask the FAMILEE.

 

[nayr69sg]

Re: CPF sells Head Office Building for $550 million, they must be going broke, need m

your minimum sum will be kept deep in the vaults of valhalla, cum hell or high water.

Huh? Oh sorry I forgot how it feels like to be a Singaporean. Just renounce your Singapore citizenship and you don't have to worry about hell, high water or valhalla to get ALL of your CPF money out. (before it is too late).

 

[halsey02]

Re: CPF sells Head Office Building for $550 million, they must be going broke, need m

cpf building should be located in hell since thats where u have to go in order to access ur cpf funds and in order to get there u must take a elevator 18 stories underground guarded by two door watching trolls,inside u must speak to a evil fat cat whose pasttime is sharpening his claws on helpless human beings and also the director of human resource department.

After passing through all the checks, the next one will be, you will taken to a cul de sac & "interviewed" by "hairy & ah choo"....before funds can be released.

It is better that....you just say, you don't withdraw at all...it is a "love gift", after all, 70% of Singaporeans just LOVE to GIVE, & they can give to Kong Hee Fatt Choy & gang...why not?...

 

[The_Hypocrite]

Re: CPF sells Head Office Building for $550 million, they must be going broke, need m

no point for cpf to occupy prime land. its head office should be relegated to ah beng heartland.

Knowing the way the pappies work.. They will move to an upgraded building tat cost 1 billion..than say cost go up...need to raise minimum sum n admin fee etc

 

[Froggy]

Re: CPF sells Head Office Building for $550 million, they must be going broke, need m

Wonder if CPF had cleared up everything in it's underground

 

[syed putra]

Re: CPF sells Head Office Building for $550 million, they must be going broke, need m

well done. good move. but why sell when property depressed? should sell when high no?

 

[no_faith]

Re: CPF sells Head Office Building for $550 million, they must be going broke, need m

In sg any govt related building or biz can anyhow call for hundreds or thousands millions, lidat also can?

No wonder, sinkies saw a great example, hdb also anyhow call for millions.

 

[Papsmearer]

Re: CPF sells Head Office Building for $550 million, they must be going broke, need m

well done. good move. but why sell when property depressed? should sell when high no?

My thoughts exactly. The reason is pointed out in my other thread.

Its to spite Richard Li, and its called ownself sell to ownself.

http://sammyboy.com/showthread.php?...h-other-attain-year-end-bonuses-like-that-can