Far East Orchard deal would lift core assets under management past S$3 billion goal

The Business Times reports that Far East Orchard announced a S$28.3 million cash deal to buy an additional 42% stake in the managers of Far East Hospitality Trust. The deal would raise its ownership from 33% to 75% and lift core assets under management from S$2.1 billion to S$3.9 billion, surpassing its S$3 billion goal four years early. The company has set a new target of at least S$5 billion by FY2030.