INDUSTRIAL landlord Ascendas Real Estate Investment Trust (A-Reit) has enhanced its capital structure through a series of capital management initiatives. As a result, the trust has effectively extended its weighted average debt maturity to 4.5 years - from 2.4 years - and secured funds for acquisitions, it said yesterday. The trust has extended a $300 million loan that was due this month by seven years...
REITS
Mainboard-listed Ascendas Real Estate Investment Trust (A-REIT) said it has enhanced its capital structure through a series of capital management initiatives. It said it has conducted a successful offering of S$300 million of exchangeable collaterised securities (ECS) due in 2017 with a put option in 2015. The ECS was priced at a coupon and yield to maturity of 1.6 per cent with an initial exchange price...
CapitaMalls Asia has replaced Cosco Corp as a constituent stock of the STI. The change comes after the latest half-yearly review of the index. Meanwhile, the STI reserve list of the five highest ranking non-constituents of the index by market capitalisation are now, Keppel Land, Yangzijiang Shipbuilding, Ascendas Real Estate Investment Trust, Yanlord Land, and Parkway Holdings. These firms will be...
They posted returns of 85.6%; Asian Reits performed well as a region: study REAL estate investment trusts (Reits) in Singapore have outperformed their counterparts in other major markets in terms of total returns in 2009, according to a report released yesterday. Ernst & Young's study showed that Reits Singapore and Hong Kong posted returns of 85.6 per cent and 64.5 per cent respectively in...
Mainboard-listed Ascendas Real Estate Investment Trust or A-Reit said it will buy three new properties totalling S$228.5 million. It has signed two sale and purchase agreements as well as a memorandum of understanding for the purchase of a property under development. Under one sale and purchase agreement, A-Reit will acquire DBS Asia Hub located at Changi Business Park Crescent for S$116 million. This...
Mainboard-listed Saizen REIT on Thursday said it has proposed not to declare any distribution for its second quarter after reporting a loss. Net loss for the three months ended in December was 94.3 million yen or about S$1.48 million. That was in sharp contrast to a 214.6 million yen profit made over the same period a year ago. Saizen REIT said it saw a loss in the divestment of its properties, leading...
CapitaMall Trust (CMT) has acquired riverfront development Clarke Quay from sister company CapitaMalls Asia for S$268 million. CMT said it has sufficient financial flexibility and capacity to fund the transaction, which is targeted for completion by July 2010. Assuming the transaction is fully funded by debt, CMT's gearing would be 33.1 per cent - still within its target range of 30 to 35 per cent. CMT...
Mainboard-listed ARA Asset Management and CWT said their joint venture REIT has obtained a letter of eligibility to list its units on the Singapore Exchange (SGX). The joint venture REIT, called Cache Logistics Trust or CLT, will invest principally in logistics properties in the Asia Pacific region. It will be managed by ARA-CWT Trust Management, which is 60 per cent owned by ARA and 40 per cent by...
CapitaMalls Asia has agreed to buy the Meili Mall in Chengdu for about S$95 million. The seller is Chengdu Vanke Property. Including fitting out works, CapitaMalls Asia's estimated total expenditure on the mall is S$106.9 million. The mall is part of a mixed-use development, comprising retail and residential components. It is currently being developed by Chengdu Vanke Property and expected to be...
CapitaMalls Asia's net profit in 2009 jumped 235 per cent on-year to S$388 million. In its maiden full-year results since listing last November, CapitaMalls Asia said the boost to the bottom line came mainly from its China market. It also said it may benefit from the recent moves by the Chinese government to tighten credit. Consumer spending in Asia has remained robust despite the economic downturn,...