ARA Asset Management (ARA) reported an 18 per cent year-on-year increase in net profit to S$29.6 million for the six months ended 30 June. Total revenue for the same period rose 14 per cent to S$52.55 million. On a quarterly basis, net profit increased by 17 per cent to S$14.74 million while total revenue for the quarter rose by 8 per cent to S$25.35 million. ARA Group CEO, John Lim said that its...
ARA Asset Management
Mainboard-listed ARA Asset Management said its net profit increased 19 per cent to S$14.8 million for the first quarter ended March. The real estate fund management company said its revenue also saw a similar increase to S$27.2 million from S$22.9 million in the same quarter last year. This was supported by a 14 per cent growth in recurrent management fees to S$22.1 million which was higher than the...
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...
ARA Asset Management has entered a partnership agreement with Qatar-based Regency Group to jointly manage a Shariah-compliant real estate investment trust (REIT). The partners plan to list the REIT on the Singapore Exchange in the second half of 2010. ARA said the proposed REIT is expected to comprise mainly of hospitality properties, including hotels and serviced apartments in Qatar. These will be...
ARA Asset Management has announced a net profit of $22.1 million for the six months ended June 30, 2009 (1H2009), a 22% increase from the $18.1 million achieved in 1H2008. The increase in net profit was achieved on the back of a 13% rise in total revenue to $38.5 million in 1H2009 from $34.1 million in 1H2008. ARA says management fees from REIT and private fund management rose 4% to $32.4 million in...
ARA Asset Management has posted first-quarter earnings of S$9.2 million, up 137 percent from a year ago. Revenue more than doubled to S$17.5 million. The growth was mainly due to higher management fees from its REIT portfolio, as well as higher net property income. ARA is expecting its asset enhancement initiatives to boost income for the full year of 2008. It is looking to set up REITs in new asset...