Reported in Singapore Business Times 6 Dec :-
Ms Ng Hsueh Ling, Chief Executive of K-Reit Asia, revealed that it was K-Reit that approached its sponsor Keppel Land to snap up Ocean Financial Centre (OFC). This was to have a say in rental negotiations now underway, get tax exemption and to lower the average age of its property portfolio. Ms Ng also rejected suggestions that Keppel Land got the sweeter deal. She noted that the S$1.57b that K-Reit paid for Keppel Land’s 87.5% stake in OFC is still well short of the peak. Ms Ng added that Keppel was not urgently looking to offload the property.
News source :-
http://singaporehomecondominium.blogspot.com/2011/12/real-estate-industry-news_06.html