AmProp, JV partners acquire RM1.2bil property in Singapore

Companies that provide short-term consumer loans at high interest rates are on the increase in countries like Indonesia and the Philippines as many people struggle to get advances through traditional channels such as banks.

KUALA LUMPUR: Amcorp Properties Bhd (AmProp) has entered into a joint venture agreement with SRIF Pte Ltd and an endowment fund established by Nanyang Technological University to acquire a commercial property in Singapore.

The property, valued at S$395mil (RM1.2bil),  is a two blocks of eight -storey premium Grade A office towers in Tampines.