Real estate developer GuocoLand said on Friday that it would launch a 1-for-3 rights issue to raise about $532.5 million to strengthen its capital base and fund expansion. The company will sell 296 million shares at $1.80 apiece, a discount of approximately 15.9 per cent from the shares' closing price of $2.14 on Thursday, the last trading day before the announcement. "The company is raising capital as...
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Shares of residential property developer MCL Land jumped 25.6 per cent to close at $2.45 on Friday, a day after parent company Hongkong Land said it planned to delist the counter from the Singapore Exchange. Dealers said the rise in share price was expected as investors moved in to narrow the gap between its last traded price and the offer price of $2.45 by Hongkong Land to take the firm private. Around...
Maybank Singapore has raised the bar in the home loans market with its slew of latest offerings that include mortgage rates lower than one per cent in the first year. For instance, its fixed rate packages with either a three or five-year term offers the lowest rate in town at 0.88 per cent a year in the first year. As for its home loans that are pegged to interbank lending rates, Maybank is offering...
Singapore-listed Ascendas Reit (A-REIT) said on Friday that ratings agency Moody's has upgraded its rating. Moody's has lifted A-REIT's corporate family rating to A3 from Baa1. It did so to reflect A-REIT's operating and financial strength, as evidenced by its revenue growth and high occupancy rates during the downturn. A-REIT said the move recognised its established market position as well as its...
Property group GuocoLand said it has recorded profits of S$134.3 million for the full year ended June. This overturns a loss of S$70.2 million in the previous financial year. Meanwhile the company posted its group revenue of S$732.7 million for the same period. This is a 43 per cent increase on-year. The company said the increase was mainly due to recognition of profit from strong sales in...
Keeping Singapore attractive as a corporate headquarters location To maintain its appeal to multi-national corporations (MNCs), Singapore needs to stay ahead of its main competitors in terms of the built environment on offer. What factors encourage inward investment by office occupiers into Singapore? What elements are required for successful future office developments? The key to maintaining functional...
Most of us have heard it all before from the experts. Investing in homes is one of the safest and surest forms of investment. If you cannot re-sell the property for a good profit within a couple of years, you can always hold it for the long term because it will always appreciate. But if everyone follows this advice, will it still work? Surely it is a recipe for disaster. If everyone is going to earn it...
Lumiere, BS Capital's latest residential property, welcomes high-flying executives who want the convenience of living in Singapore's Central Business District. Located in the Shenton Way strip, the 45-storey development boasts 168 units. The freehold apartment complex consists of 33 studio units from 506 square feet each, 99 one-bedroom with study units from 624 sq ft each and 33 two-bedroom units from...
Oxley Holdings says that more than 95 per cent of the 144 units in its residential development, Viva Vista, have been sold following a successful preview earlier this week. Located along South Buona Vista Road, the project features "shoebox" units with sizes between 323 sq ft and 1,076 sq ft. The average transacted price was $1,450 per square foot (psf), the company said. Source : Today – 27 Aug...
Hongkong Land on Thursday said it wants to acquire all the remaining shares that it does not already own in MCL Land and delist it from the Singapore Exchange. The exit offer is at a total cost of S$205 million, or S$2.45 per share. HongKong Land currently owns 77.4 per cent of MCL Land through its subsidiary, HKL MCL. The company said it will fund the proposed acquisition from existing cash...