2 ways to ride on India market: replicate Reit or pump in properties EVEN as Fortis Healthcare and Parkway Holdings are pondering over the possible synergies that the healthcare partners can leverage on from their new relationship, one analyst has suggested that they look into real estate too. Simranjit Singh, director of healthcare practice at Frost & Sullivan Asia Pacific, said that with the India...
REITS
WE refer to the article 'Qatar SWF snaps up top Singapore hotel' (BT, April 7). While the article states that Qatari Diar has acquired a stake in the Fairmont Raffles hotel chain, it implied that Fairmont Raffles will also take ownership of one of the chain's Singapore hotels - namely Swissotel The Stamford, Fairmont Singapore and Raffles Hotel. Swissotel The Stamford and Fairmont Singapore are hotels...
ANOTHER real estate investment trust (Reit) is headed for the local bourse, this time focusing on logistics properties. Cache Logistics Trust plans to raise $417.2 million through an initial public offering (IPO) of 474.1 million units. Of these, 41 million units will be offered to the public. It is the first Reit to list on the SGX mainboard after the recent global financial crisis - and it is set to...
Mainboard-listed CapitaMall Trust (CMT) said it has established a Euro-Medium Term Note Programme worth US$2 billion. Net proceeds from the issuance will be used to refinance existing borrowings, to fund investments and for general working capital. CMT said the Note Programme is in line with its strategy of increasing financial flexibility by diversifying sources of funding and extending debt...
Cache Logistics Trust prospectus says 474.2m units will be offered at 84-88 cents each CACHE Logistics Trust has lodged its listing prospectus with the Monetary Authority of Singapore, revealing that the new Reit hopes to raise about $400 million through its IPO. According to the prospectus, Cache is offering 474.2 million units at 84 to 88 cents each. A distribution yield in the range of 8.82-9.08 per...
PROSPECTS for real estate investment trusts (Reits) in Singapore remain challenging as there will be a greater supply of office, industrial and retail space coming onstream, said Moody's Investors Service yesterday. The rating agency kept its outlook for the sector over the next 12 months negative. This places it at the bearish end of the scale compared with two other research houses - DMG & Partners...
It provides flexibility for acquisitions and asset enhancement initiatives: Goldman CAPITACOMMERCIAL Trust's (CCT) second major fund-raising exercise in less than a year could pave the way for the office landlord to improve its portfolio, analysts said. The trust on Wednesday said that it will issue $225 million worth of convertible bonds and use 75-90 per cent of the proceeds to enhance its assets and...
Ratings agency Moody's on Thursday said Singapore real estate investment trusts (S-REITs) could suffer from the supply of new commercial properties and modest economic growth. In its latest report, Moody's said that despite the resilience of most S-REITs in the last six months, it expects the fundamental prospects for the sector to remain challenging in the next 12 months. This is because of the...
Most of the funds to be used for asset enhancement and debt refinancing CAPITACOMMERCIAL Trust (CCT) is planning to raise at least $225 million and up to $250 million through a five-year convertible bond issue to be placed with institutional and accredited investors. The office Reit, which is partly owned by CapitaLand, plans to use most of the funds (75-90 per cent) for 'asset enhancement and...
CapitaCommercial Trust is proposing to issue at least S$225 million in convertible bonds due in 2015. The bonds are being offered to institutional investors and accredited investors. CCT said the size of the issue may be increased by up to S$25 million within the next 30 days, thereby raising total proceeds of up to S$250 million. Pricing is expected later, after a book-building exercise. CCT said the...