Property developer Sinar Mas Land, through PT Bumi Serpong Damai, has formed a partnership with Singapore-based Mitbana Pte Ltd to build transit-oriented developments (TODs) in BSD City, South Tangerang, Banten.Mitbana, established in March 2019, is a joint venture company of Mitsubishi Corporation from Japan and Surbana Jurong from Singapore.“With this commitment, Mitbana will become Sinar Mas Land’s largest development partner in BSD City, and we look forward to having our partnership bring even better value to our residents and becoming a model for TOD developments in Indonesia,” said Sinar Mas Land group chief executive officer Michael Widjaja.Mitbana will work with Sinar Mas Land to transform over 100 hectares of greenfield land in BSD City into TODs comprising residential units, commercial properties, living amenities and public transport nodes. This undertaking will enlarge BSD City’s existing development footprint and expand on its current population of 200,000 residents, Sinar Mas said in a statement. According to data from the Investment Coordinating Board (BKPM), Singapore was Indonesia’s top foreign investor in the first half of 2020, with a total of US$3.4 billion in realized investments comprising 5,348 projects. During the same period, Japan was the second-largest with investment of US$2.4 billion comprising 3,708 projects, the statement read.Mitbana CEO Gareth Wong said, “The future growth potential of TODs in Indonesia presents many scalable development opportunities for Mitbana, and we are very excited to make this first step toward realizing our vision of becoming a leading urban development fund that transforms communities through smart, sustainable and social development thrusts.”BSD City is Sinar Mas Land’s flagship town development that encompasses a total land area of approximately 6,000 hectares.Topics :
Wellington Police notes for Monday, November 16, 2015:â€¢8:14 a.m. Officers investigated a domestic battery of a known suspect(s) in the 600 block E. 22nd, Wellington.â€¢10:31 a.m. Officers took a report of suspicious activity in the 200 block N. C, Wellington.â€¢3:07 p.m. Officers took a report of suspicious activity in the 1800 block N. A, Wellington.â€¢5:39 p.m. Officers investigated stalking and criminal damage to property by a known suspect in the 1100 block E. 16th, Wellington.â€¢5:55 p.m. Non-Injury accident in the 300 block N. High, Wellington involving vehicles operated by Stormie G. Higgenbotham, 53, Wellington and Dominque L. Vargas, 18, Wellington.â€¢7:50 p.m. Officers took a report of a child in need of care in the 100 block Apple Blossom Lane, Wellington.
AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREOregon Ducks football players get stuck on Disney ride during Rose Bowl event“The economy is becoming a well-oiled machine,” said Joel Naroff, president of Naroff Economic Advisors. Industrial strength in March was broad-based. Machinery, clothing, consumer appliances, furniture and carpeting, and business equipment all posted production gains. Even the struggling automotive sector saw some improvement. That swamped some weakness in home electronics and textiles. Economists believe economic growth for the January-March quarter will clock in at a brisk pace of 4.5 percent or higher. The government will release first-quarter figures at the end of the month. In the current April-to-June quarter, the economy is expected to moderate to a pace in the range of 3 percent, which would still represent good growth, analysts said. With the economy solidly chugging ahead, the Federal Reserve and other economists are being especially watchful for any signs that inflation may flare up. WASHINGTON – U.S. industry headed into the spring with a full head of steam: Production at factories, mines and utilities rose by 0.6 percent in March in the latest encouraging sign for the economy. The snapshot of industrial activity, released by the Federal Reserve on Friday, comes on the heels of other positive economic barometers. Consumers – a key ingredient of the country’s economic health – are keeping cash registers busy, and businesses are ramping up hiring, according to recent government reports. The solid increase in industrial production in March came after a 0.5 percent advance in February and was the largest since December. The showing was better than economists were expecting. The Federal Reserve boosted a key interest rate to a five-year high on March 28, the latest in a series of rate-raising moves since June 2004 to keep inflation in check. Many analysts expect another rate increase on May 10, the Fed’s next meeting. The proportion of overall industrial capacity in use climbed in March to 81.3 percent, the highest since September 2000, the Fed report showed. Economists look at this capacity utilization figure for clues about the future inflation climate. For instance, if plants were running at full tilt and couldn’t crank out enough goods to satisfy customers’ demand, there could be a run up in prices. March’s capacity utilization figure isn’t worrisome at this point, analysts said. “We are not there yet. I think anything north of 83 percent, we could see price pressures,” said Ken Mayland, president of ClearView Economics. The biggest slice of overall industrial production is manufacturing. Production at factories rebounded in March, rising by 0.5 percent. Daniel Meckstroth, chief economist for the Manufacturers Alliance/MAPI, a research group, said the performance is akin to “a green light for manufacturing.” Analysts said factories are benefiting from decent demand for their goods not only from customers in the United States but also from other countries.160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!