MacBank flexes its arm in India

MACQUARIE Bank's Singapore partner Ascendas may list a real estate investment trust made up of its Indian assets.

Ascendas, which manages the city state's second-biggest property trust, would list the Indian property trust in Singapore, according to Jonathan Yap, head of the company's Indian unit.

The Singapore-based company, which started a $S350 million ($300 million) Indian property fund about a year ago, is studying several options to boost returns for investors that include General Electric Commercial Finance Real Estate, Bangalore-based Mr Yap said in an interview in Singapore.