A family-owned company is putting three properties put up for sale by tender. They are a large vacant Good Class Bungalow (GCB) plot at Holland Rise/East Sussex Lane, a freehold industrial redevelopment site at New Industrial Road, and a former cinema space at Sultan Plaza, on Jalan Sultan. According to the marketing agent Credo Real Estate, these three properties belong to a family-owned company. A...
business
Ascendas Hospitality Trust has received strong demand for its initial public offering. A total of over 437 million stapled securities were offered for subscription at S$0.88 per stapled security. At the close of the public offer at 12 noon on July 24, there were more than 17,000 valid applications for about 485 million stapled securities. The placement tranche of 355 million stapled securities, offered...
CapitaRetail China Trust (CRCT) has reported higher distribution per unit (DPU) of 2.41 Singapore cents for the second quarter of 2012. This is an increase of 12.1 per cent over the 2.15 cents in the same period last year. Gross revenue for the three months ending June 30 increased 24.3 per cent year-on-year to S$38.1 million, while net property income was up 20.9 per cent year-on-year to S$24.9 million....
Starhill Global REIT (SGREIT), owner of the Wisma Atria shopping mall in Orchard road, on Tuesday reported a 3.8 per cent increase in second quarter distribution per unit to 1.08 cents, from 1.04 cents a year earlier. Net property income for the three-month period rose 4.4 per cent to S$37.1 million. Revenue for the period ended June increased 4.8 per cent to S$46.4 million, up from S$44.2 million in the...
Mapletree Industrial Trust (MIT) on Tuesday reported a 14.1 per cent year-on-year increase in its first quarter distribution per unit (DPU) to 2.26 cents. The DPU was up from the 1.98 cents DPU it posted in the same period a year ago. Distributable income for the quarter ended June also rose by 27.1 per cent to S$36.9 million from S$29 million last year. The trust, partly-owned by Temasek Holdings,...
Ascendas India Trust has reported a 20 per cent drop in its distribution per unit to 1.20 Singapore cents for the first quarter ended June. This was mainly due to a weaker rupee which helped to reduce the trust's distributable income by 19 per cent to S$9.2 million. In the past year, the Singapore dollar has risen 20 per cent against the Indian rupee. Still, the trust's total property income rose by 3...
Pan Pacific Hotel Group said serviced apartments is a unique growth segment in Myanmar. The Singapore listed group had acquired a hotel in the former capital, Yangon, eleven years ago and branded it as part of its Park Royal hotels chain. And now that Myanmar's economy is opening up, the Group said its investment in the country is paying off. Pan Pacific Hotel Group's CEO, Patrick Imbardelli, said:...
The City Harvest Church (CHC) has raised its shareholding in Suntec Singapore International Convention and Exhibition Centre to 39.2 per cent. Executive pastor Aries Zulkarnain made the announcement at a service on Saturday. In 2010, the church, through its wholly-owned subsidiary, Urban Property Investments Limited acquired 20 per cent effective shareholding for an aggregate purchase price of S$43.75...
CapitaCommercial Trust (CCT) said on Friday that its second quarter distribution per unit (DPU) rose 7.3 per cent on-year to 2.06 cents. It is its highest quarterly DPU since 2009 and comes on the back of strong revenue from its acquisition of Twenty Anson and higher rental income from HSBC Building and Raffles City Singapore. Higher yield protection income from One George Street also contributed to the...
Private home prices in Singapore have been on an uptrend post-global financial crisis, with the market having risen about 55 per cent since the middle of 2009 to hit a new high. Excess liquidity in Asian markets, a lacklustre United States economy and weakening European markets - as well as local factors such as low mortgage rates, higher immigration numbers, rising affluence and decreasing household sizes...