SINGAPORE (Dec 26): Catalist-traded Pacific Star Development is buying out its joint venture partner in the Puteri Cove project in Iskandar Malaysia for S$26 million as it seeks external financing for working capital and its Bangkok development.
Puteri Cove Residences and Quayside is a mixed-use property development comprising condominium units, serviced suites, SOHO and a lifestyle retail centre in Iskandar Puteri.
The transaction involves Pacific Star Development’s subsidiary Twin Prosperity Group acquiring partner’s Max Treasure's 49% stake in Twin Prosperity, the holding company of the Puteri Cove project, for S$11 million and Twin Prosperity repaying a... (Click here to read the full story)