Stock News: Fraser & Neave formed joint venture with Far East Organization!

Fraser & Neave Ltd said its unit Frasers Centrepoint Ltd has formed a joint venture with Far East Organization to acquire an 809,000-square foot Waterfront View property here for 385 mln sgd, translating to 241 sgd per square foot. The site, which has a 2.5 plot ratio, is intended for residential development. F&N said that the property can be developed into 1,400-1,600 units of high rise apartments. Far East Organization is the largest private developer in Singapore.