Reuters SG
Singapore shopping mall owner NTUC Enterprise Co-operative Ltd has scaled down the size of a planned asset sale to about S$3 billion ($2.1 billion), or three-fourths of the original proposal, while short-listing three potential buyers, sources familiar with the matter said. Singapore's rising interest rates and a tepid growth outlook have prompted Mercatus Co-operative Ltd, a unit of NTUC that manages the assets and was exploring the sale, to remove at least one project from the prospective deal, the sources added.