Sabana Shari'ah Compliant Industrial Real Estate Investment Trust (Sabana REIT) said it planned to raise up to S$696.1 million through an initial public offering (IPO), according to a prospectus it has filed with the Monetary Authority of Singapore (MAS) . It said it planned to sell 632.8 million units, with each unit priced between S$1 and S$1.10. If successful, this would make it the first...
REITS
Sabana Shari'ah Compliant Industrial Real Estate Investment Trust (Sabana REIT) plans to raise up to S$696.1 million through an initial public offering (IPO), according to a prospectus it has filed with the Monetary Authority of Singapore (MAS). Sabana said it plans to sell 632.8 million units, with each unit priced at between S$1 and S$1.10. If successful, this would make it the first Shariah-compliant...
Healthcare real-estate investment trust First Reit is launching a rights issue to partly finance its acquisition of two Indonesian hospitals. The trust said on Tuesday it would raise some S$172.8 million in gross proceeds through the issuance of about 345.6 million new units. The rights issue is offered to unitholders on a pro-rata basis of five rights units for every four existing units at a price of 50...
CapitaMalls Asia (CMA) said it has entered into an agreement to obtain a two-third stake in a S$747.2 million property project in Shanghai. It said the shopping mall and office project in the Luwan district is expected to be completed by 2015. CMA said the shopping mall would be well-positioned to serve affluent residents as well as working professionals in the area. It added the proposed investment was...
Parkway Life Real Estate Investment Trust (PLife REIT) posted a 28.3 per cent rise in its Q3 gross revenue on-year, to S$21.2 million. It said its higher revenue was mainly due to additional revenue contribution amounting to S$1.8 million from its Japanese properties. The properties were acquired in the fourth quarter of 2009. PLife REIT also reported its Q3 net property income rose 26.5 per cent...
At least five real estate investment trusts (Reits), each worth around $500 million or more, are expected to list over the next six months, according to DBS Group Holdings. More dual listings of Reits might also be on the cards, after China firms up guidelines for the sector. Eng Seat Moey, managing director and head of DBS Bank's asset-backed structured products, said 'You can expect a lot more initial...
DBS Bank said it continues to be the leading underwriter of Singapore-listed real-estate investment trusts (REITs). The bank said it is leading the pack with a 30.2 per cent market share so far this year. Citigroup is second with a 22.9 per cent market share, followed by Standard Chartered Bank, which has garnered an 18.1 per cent share in REIT underwriting this year. DBS has underwritten about S$2.2...
Mainboard-listed CDL Hospitality Trusts on Friday reported a higher distribution per unit (DPU) for the third quarter ended in September. It announced a DPU of 2.54 cents for the period, a 24.5 per cent jump compared with 2.04 cents in 2009. Distributable income rose 44.6 per cent to S$26.9 million, as net property income increased 40.9 per cent from a year earlier to S$30.1 million. The higher revenue...
CapitaMalls Asia (CMA) on Thursday reported a net profit of S$68 million for the third quarter. This is a 14 per cent increase from a year earlier. However, revenue for the same period slipped 22.1 per cent to S$42.5 million. CMA said the fall in revenue was mainly because of the divestments of three Malaysia malls to CapitaMalls Malaysia Trust, and Clarke Quay to CapitaMalls Trust. The company said...
Cache Logistics Trust has posted a distribution per unit (DPU) of 1.94 Singapore cents for the fiscal third quarter and net property income for the quarter was S$14.36 million. This represents an increase of around 13.5 per cent when compared with the previous quarter. Meanwhile, distributable income came in at S$12.3 million, a 13.5 per cent increase from the quarter before. The Cache portfolio...