Daily Briefing: AA REIT ends $94.91m secondary placement; NTUC FairPrice stops charging for plastic bags

And here’s how Penang is planning to lure in Singaporean visitors.

From DealStreetAsia:

AIMS APAC REIT (AA REIT) has completed a $94.91m secondary placement through a book-building process. The total number of units that were subscribed to is approximately 70.32 million priced at $1.35 per unit.

The placement aimed to diversify its investor base, enhance its investor profile, and improve the trading liquidity of its units. AA REIT earlier received written notification from AIMS Financial Holding that it will be putting out a secondary placement of certain units in AA REIT.

These 70.32 million units were the subject of a put and call option agreement made in 2018 and 2019 between AIMS Financial Group and AMP Capital Investors with their affiliates.

Read more here.

From Channel News Asia:

NTUC FairPrice has stopped its month-long trial to charge for plastic bags at seven FairPrice and Cheers outlets. A FairPrice spokesman said it is "still too early to provide meaningful data" on the results of the trial and the consumer sentiment study.

Between 16 September and 16 October, shoppers were charged 20 cents per transaction at the participating FairPrice, FairPrice Finest and FairPrice Extra stores if they wanted plastic bags for their purchases, and 10 cents per transaction at the Cheers and FairPrice Xpress outlets.

The proceeds were donated to the Singapore Children's Society and The Straits Times School Pocket Money Fund.

Adding that more updates will be available next month, the spokesman said: "We will study and analyse the survey findings, along with customer feedback, to develop a well-informed and sustainable action plan to reduce plastic bag use."

Read more here.

From TTG Asia:

Penang Global Tourism is looking to snare even stronger arrivals from Singapore, amongst Malaysian destination’s top three source markets, with its new Experience Penang 2020 campaign and soon-to-come travel promotions with airlines and online travel agents.

Penang Global Tourism’s CEO Ooi Chok Yan revealed at its campaign launch that plans to further grow arrivals from Singapore next year include creating loyalty programmes, as well as working on joint promotions with OTAs and airlines that operate flights between Singapore and Penang. It will also intensify its branding and destination marketing through print and online advertising.

Singapore outbound agents that TTG Asia spoke to at the event said that leisure and corporate travel demand for Penang has climbed on the back of attractive airfares, a weak ringgit and new products and attractions.

Otto Gerard Ree, business development manager at Cultural & Entertainment Holidays, observed rising interest among Singaporean youths who favour nature and soft adventures in Penang. Fuelling the demand are return airfares that are priced “as low as S$148”.

Read more here.

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