Property developer Frasers Centrepoint said on Wednesday (June 4) that it has submitted a A$2.6 billion (S$3.03 billion) takeover bid for Australia's Australand Property Group. Frasers Centrepoint has proposed a cash offer of A$4.48 per share, topping a A$4.43 offer made by Australand stakeholder Stockland Corp, Australia’s second-largest property group. Australand’s board intends to recommend...
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Singapore-listed Real Estate Investment Trusts (S-REITs) have gained popularity among investors this year. Their unit prices have risen by about eight per cent year-to-date, outperforming the benchmark STI. While market watchers are upbeat about the growth prospects for REITs, they say investors should focus on good asset quality. Suntec REIT is among the top performing REITs in Singapore this year,...
The EDB said that despite a one-off “firm-specific factor” that led to what economists called a surprising decline in electronics manufacturing output, continued investment interest will support growth in the sector. EDB director of electronics Terence Gan said, in response to a TODAY query, that electronics firms had committed S$16 billion in fixed asset investments over the past three years,...
The group making a takeover bid for Hotel Properties Ltd (HPL) has raised its offer price again. 68 Holdings - led by Singapore tycoon Ong Beng Seng and Wheelock Properties - is now offering S$4.05 for each HPL share, up from the previous S$4.00 a share. 68 Holdings had originally offered S$3.50 per share. This follows an agreement by 68 Holdings to buy 6.69 million HPL shares, representing 1.29...
CapitaLand has raised its stake in CapitaMalls Asia (CMA) to 85.2 per cent, bringing it closer to crossing the 90 per cent level that would enable it to delist its shopping mall arm. CMA is one of Asia's largest shopping mall developers and operators, with interests in more than 100 shopping malls across Singapore, China, Malaysia, Japan and India. "We are pleased with the positive response towards...
CapitaLand's stake in CapitaMalls Asia (CMA) has crossed the 80 per cent mark, bringing it closer to attaining full control of its shopping mall arm. Southeast Asia's largest developer CapitaLand now controls approximately 81.3 per cent of CMA, after taking into account open market purchases and acceptances of the offer as at 5 pm on Tuesday (May 20), it said in a statement on Wednesday. On 16 May,...
Singapore property group Mapletree Investments is looking to expand into the United States and Europe amid a less certain outlook for its core Asian markets in the near future. "Over the last 12 months, we were concerned about the volatility that could arise across markets in Asia once the start of the QE tapering was made known," Group Chief Executive Officer Hiew Yoon Khong said in a statement...
CapitaLand has sweetened its offer to buy out minority shareholders of shopping mall arm CapitaMalls Asia. CapitaLand, Southeast Asia's largest developer, said it will now pay S$2.35 per share, up from the previous offer of S$2.22 per share. The previous offer price was subsequently adjusted downwards to S$2.2025 per share to take into account a dividend payment. CapitaMalls shareholders who...
Luxury property developer KOP is perhaps best known for its Hamilton Scotts condominium, where a unit sold for as much as S$24 million. It was also responsible for developing the Montigo resorts in Bali and Batam. But the firm is changing its strategy to focus on building mixed-use entertainment centres. Amid sluggish demand in the high-end property market, KOP said it is now seeing better...
Lotte Shopping has postponed the listing of an up to US$1 billion (S$1.25 billion) real estate investment trust (REIT) in Singapore, underscoring lacklustre appetite for initial public offerings amid volatile market conditions. The operator of South Korea’s largest department store chain said in a regulatory filing yesterday it might reconsider the option if global financial markets improve, but is...