Daily Briefing: Holding WEF meeting in SG will show ‘strong' confidence in country's ability: Alvin Tan; Ascendas India Trust acquires Hyderabad office asset for $92m

And ERP rates to rise at 10 gantries.

From ChannelNewsAsia:

The World Economic Forum (WEF) Special Annual Meeting being held here will send a “strong signal of confidence” in Singapore’s ability to host major international events in a “safe and innovative way,” Minister of State for Trade and Industry and Culture, Community and Youth Alvin Tan said in Parliament on 16 February.

Hosting the event in August would give Singapore an opportunity to contribute meaningfully to its programme and discussions, Tan said, adding that organisers had decided that Singapore is the best place to hold the meeting.

“We welcome this opportunity and will work with the Forum to strengthen the meeting’s focus on Asia, because of Asia’s growing economic weight and strategic importance to the global economy,” he said.

Tan also spoke about how the meeting would have a “positive impact on Singapore’s economy and international standing” and that companies supporting the event would also benefit directly.

He was responding to Member of Parliament He Ting Ru (WP-Sengkang) who had asked what principles were being adopted in assessing approval for an in-person global conference amidst the COVID-19 pandemic.

Read more here.

From DealStreetAsia:

Singapore-listed Ascendas India Trust (a-iTrust), the first Indian property trust in Asia, is acquiring another IT SEZ (special economic zone) building at HITEC City, Hyderabad for about $92m (US$70m).

Ascendas Property Fund Trustee Pte Ltd, the trustee-manager of a-iTrust, announced on Tuesday that it has entered into definitive agreements with Phoenix IT Infrastructure India for the proposed acquisition of aVance 6 at HITEC City.

The acquisition involves an IT SEZ building with a total floor area of approximately 639,500 sq ft. About 98.3% of aVance 6 is leased to multinational corporation Amazon Development Center.

aVance 6 will be the fifth building that a-iTrust will acquire from the Phoenix Group.

Read more here.

From ChannelNewsAsia:

Electronic Road Pricing (ERP) rates will be increased at 10 gantries along the Ayer Rajah Expressway (AYE), Central Expressway (CTE) and Kallang-Paya Lebar Expressway (KPE) next week to manage congestion during peak periods, the Land Transport Authority (LTA) said on Monday.

ERP rates at those gantries will be adjusted by $1 with effect from 22 February.

ERP charges will be reintroduced at three gantries on the AYE after Jurong Town Hall towards the city, on the KPE (ECP) after Defu Flyover, and on the Southbound CTE auxiliary lane to PIE (Changi).

Charges will also be adjusted by $1 at the gantry on Southbound CTE before Braddell Road and the set of four gantries along the Southbound CTE after Braddell Road and PIE slip road into Southbound CTE.

Rates for other time periods at previously announced gantries will remain unchanged, LTA added.

Read more here.