PSA divests assets to Temasek

Singapore''s port operator sells more non-core assets to its government owned parent.

In a move aimed at sharpening the focus of Singapore's port operator, PSA Corp, the company announced on Friday that it was divesting four non-core companies and selling them to Temasek, PSA's 100% owner. The move is the latest such divestment after a similar exercise in 2000 saw PSA transfer its property assets to Temasek.

The four companies being transferred are CIAS International one of two licensed airport terminal service providers at Singapore Changi Airport providing ground,...

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