12 Mar '13, 3am

Former US President Bush's Brother to Invest in Singapore Firm - Bloomberg

Former U.S. President George W. Bush’s brother will become the chairman of SingXpress Land Ltd. (SINX) as he invests in the Singapore-based real estate developer. The stock surged to an 11-month high. Neil Bush is buying shares of the company as it raises S$226.5 million through a rights offer and share sale, according to a statement on the Singapore stock exchange yesterday. The company will be renamed SingHaiyi Group Ltd. The developer, which has ambitions to develop real estate outside the city-state, said it may invest in distressed properties and those facing foreclosures in the U.S. It plans to tap on the business connections of Neil Bush, whose father was also a former U.S. president. “The board has great confidence in the abilities and network of Neil Bush and we look forward to his contributions as the company explores real estate investment opportunities” in the ...

Full article: http://www.bloomberg.com/news/2013-03-12/former-u-s-presi...

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