Daily Briefing: Alibaba launched AI research lab in Singapore; GIC joins Chinese developer in US$110.8m mall deal

And here are two REITs with mixed results recently.

From Reuters via Yahoo! Finance:

Chinese e-commerce giant Alibaba on Wednesday opened an artificial intelligence research institute in Singapore in partnership with a local university, as the battle to develop AI technology heats up.

The institute, a tie-up with Nanyang Technological University (NTU), is Alibaba's first joint research centre outside mainland China. It aims to develop cutting-edge AI technologies in areas such as elderly care and urban transport.

The institute will carry out research on artificial intelligence technologies for an initial five years, starting with a pool of 50 researchers from both organisations, according to a joint press statement.

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From The Motley Fool:

As a quick introduction, Lippo Malls is the first and only Indonesian retail real estate investment trust listed in Singapore.

Gross revenue for the fourth quarter grew 1.2% to $49.3m while NPI improved by 0.8% to $44.9m as compared to the same period last year. However, the REIT’s DPU declined by 9.2% (in Singapore dollar terms) to 0.79 Singapore cents. The gearing and occupancy rates stood at 33.7% and 93.7%, respectively, as at 31 December 2017.

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From Deal Street Asia:

Singapore’s sovereign wealth fund GIC Private Limited has partnered with mainland real estate developer China Vanke Co. for the development of high-end shopping centre in Shanghai, according to an announcement by the city municipal government.

RECO Guangfulin Private Limited, a subsidiary of GIC, and China Vanke’s SZITIC Commercial Property Group (SCP Group) have jointly acquired the property, being the sole bidders for the 46,800 square meter commercial plot in the city’s suburban Songjiang district in a public auction. The consideration for the land amounts to RMB702m (US$110.8m).

Read more here.