The tussle for unitholder support between MacarthurCook Industrial REIT (MI REIT) and Cambridge Industrial Trust (CIT) continues unabated. The latest salvo was fired on Wednesday morning by MI REIT, which questioned CIT's plans for it. MI REIT wants details of CIT's proposed initiative to take charge of MI REIT's assets, as well as the costs involved in such a move. It is also asking how CIT plans to...
General
A hotel guest once called Ms Christine Kaelbel-Sheares at 2am, wanting to throw a party with bar service and a deejay for 40 friends within half an hour. Another guest and his wife wanted to rent Elvis and Marilyn Monroe costumes for Halloween at the eleventh hour, when rental shops in Las Vegas were already largely out of stock. Requests like these were the norm for Ms Kaelbel-Sheares when she was...
MacarthurCook Industrial REIT (MI REIT) has rebutted Cambridge Industrial Trust's (CIT's) assertions that its recapitalisation plan is "massively value destructive". MI REIT said on Tuesday that unitholders should not allow themselves to be distracted by analyses that are inaccurate, incomplete and misleading. It said there are a number of mistakes in CIT's analysis. These include: CIT's claim that new...
Singapore's CapitaLand will raise US$1.8 billion ($2.47 billion) through the IPO of its shopping malls unit, playing it safe on the pricing after some Asian IPOs faltered recently due to valuation concerns. CapitaMalls Asia's IPO has been priced at $2.12 a share, according to an issue prospectus, below the midpoint of an indicative range of $1.98-$2.39 a share. The conservative pricing is aimed at...
CapitaLand raised $2.47 billion selling shares in its CapitaMalls Asia unit in Singapore’s biggest initial public offering in at least a decade, said a person familiar with the matter. Southeast Asia’s largest real estate developer sold 1.165 billion shares in CapitaMalls at $2.12 each, the person said, asking not to be identified before a company announcement. The shares were previously offered at...
Punggol Sails and Punggol Ripples will have a total of 1,078 new flats THE Housing & Development Board (HDB) yesterday launched new build-to- order (BTO) projects at Punggol with a total of 1,078 flats. And four more BTO projects - with 2,700 flats in all - can be expected next month in Bukit Panjang, Sembawang and Dawson. Including the two latest Punggol projects - Punggol Sails and Punggol Ripples...
PROPERTY firm HSR announced yesterday that it will list on the Singapore Exchange via a reverse takeover of electroplating company Wepco. As part of the move, Wepco will apply to be transferred from the Catalist board, where it is now listed, to the SGX mainboard. The move involves Wepco acquiring the real estate giant and issuing 80 million shares at 50 cents a piece, a total of $40 million, to HSR...
Adria is inspired by the charm and ambience of the Adriatic coast in Italy. Adria is situated at Derbyshire Road, a short walk from Novena MRT Station in prime district 11. Located near Novena Square and a short drive away from the shopping paradise of Orchard Road, residents will enjoy a host of amenities in the vicinity. Adria is also within walking distance to Saint Joseph’s Institution...
Sales of uncompleted private homes continued to fall in October, making it the third month of decline in a row. Just 811 units were sold last month, a 29 per cent slide compared to September. This is also the first time since January that private home sales have dipped below 1,000 units. However, October saw a pickup in the number of high-end units being sold. While mass market homes have been dominating...
HDB has launched two new Build-To-Order (BTO) projects in Punggol Town, with another four BTO projects planned by late 2009 in Bukit Panjang, Sembawang and Dawson. The latest pair of BTO projects named Punggol Sails and Punggol Ripples offer a total of 1,078 standard flats. The units will be located along Punggol Field and will be served by the Punggol MRT, LRT stations, bus interchange, and the future...