Temasek, JTC to merge four subsidiaries in urban development

SINGAPORE — As urbanisation picks up pace in China, India and South-east Asia, Temasek Holdings and Jurong Town Corporation (JTC) will be starting talks to merge four of their operating subsidiaries in the urban development space.

This will allow the companies to tap on the opportunities that have arisen in this field.

JTC’s business space solutions provider Ascendas and Jurong International Holdings, which provides solutions for the built environment, will merge with Temasek’s urbanisation consultant Surbana International Consultants Holdings and SingBridge Group, which specialises in urban solutions particularly in China.

In a joint statement, Temasek and JTC pointed to the rapid urbanisation taking place across these regions in Asia, and spoke of how a merger means more scale and increased capacity to provide urbanisation solutions in Asia and other markets.

Mr Dilhan Pillay Sandrasegara, Head of Enterprise Development Group at Temasek, said: “Temasek sees growing opportunities in the sustainable urban development sector. Apart from the trends we see with the increasing urbanisation in growth markets, we also see an emerging and keen interest in building sustainable cities, both inside and outside Asia.”

“The merged group will have the scale, capabilities and resources to participate in the entire urbanisation value chain, deepen its presence in existing markets and develop new ones,” added Mr Png Cheong Boon, Chief Executive Officer of JTC.