Shares of mainboard-listed Global Logistic Properties (GLP) closed 3.1 per cent higher at S$1.98 yesterday as concerns eased about its operations in disaster-struck Japan. The rally, on a volume of about 31 million shares, brought it roughly back to the pre-earthquake levels. Shares in GLP, which counts Japan as its largest market, had fallen to as low as S$1.74 following the killer quake and tsunami on...
REITS
Hong Kong tycoon Li Ka-shing's Beijing-focused real estate investment trust (REIT) plans to raise between 10 billion yuan (S$1.9 billion) and 12 billion yuan in an initial public offering (IPO) ahead of a Hong Kong listing on April 29, a person familiar with the situation said yesterday, in what will be the first yuan-denominated IPO outside mainland China. News of the listing of Hui Xian REIT, part of Mr...
Mainboard-listed Ascendas Reit or A-Reit has acquired Neuros & Immunos, a science park property at Biopolis for S$125.6 million. A-REIT said the acquisition will strengthen its leadership position in the business & science park segment while providing a stable stream of income as the properties enjoy 100 per cent occupancy. Strategically located at Biopolis, the bio-medical research hub at...
Shopping mall developer and operator CapitaMalls Asia says it has submitted an application for a secondary listing on the mainboard of the Hong Kong Stock Exchange. CapitaMalls says the secondary listing will complement its China expansion strategy and enable the company to achieve its longer-term strategic objectives. China currently accounts for 37 percent of CapitaMalls Asia's total property portfolio...
Mapletree Logistics Trust (MapletreeLog) said that it has acquired a property in the Chugoku region in western Japan for S$114.2 million. It said in a statement that the Hiroshima Centre consists of two buildings - a two-storey warehouse for cold or frozen storage and a two-storey dry warehouse with an ancillary office. The combined total gross floor area of both buildings is about 43,600 square metres,...
Unit prices of Singapore Real-Estate Investment Trusts (REITs) are expected to increase as the retail sector gains traction from increased consumer spending and help boost rentals for shopping malls. Economic indicators, namely population growth, rising tourist arrivals and rising household income in Singapore have boosted retail sales as the Singapore economy expanded at 14.5 per cent last year. Retail...
K-REIT Asia has increased its stake in Prudential Tower to 93 per cent from 73 per cent. Its trustee RBC Dexia Trust Services entered into a sale and purchase agreement with various parties to acquire levels 26 to 29 of the 30-storey building. This was at a purchase price of about S$125.1 million inclusive of rental support. Excluding the rental support, the effective purchase consideration is about...
Saizen REIT Executive director Raymond Wong's comments about Japan crisis leading to tighter credit conditions were of a general nature, said the company in a statement Wednesday. Saizen REIT said the comment did not refer to any delay in refinancing a loan that its subsidiary, YK Shintoku, had defaulted on. It also said it has never indicated any timeline for the resolution of the YK Shintoku loan...
Cache Logistics Trust has purchased two Singapore properties for about S$39.8 million, said the trust's manager, ARA-CWT Trust Management. The properties are a 177,000 square feet two-storey ramp-up warehouse with a mezzanine office in Changi North International Logispark, and a 55,000 square feet single-storey warehouse with an extended two-storey office annex for the storage of chemical and dangerous...
Global Logistic Properties (GLP) will be joining the Straits Times Index (STI), the Singapore Exchange's (SGX) benchmark of the country's 30 biggest listed companies, replacing SMRT Corp. As part of the half-yearly review by Singapore Press Holdings (SPH), SGX, and the FTSE Group, SMRT will now join the FTSE Mid-Cap Index. The STI reserve list, comprising the 5 highest-ranking non-constituents in order...