CapitaCommercial Trust

CapitaComm Trust announces DPU of 5.19 cents, up 23% on year

CapitaCommercial Trust (CCT) will distribute 5.19 Singapore cents per unit for the first half of this year. This is about 23% higher than the same period last year. It also exceeds the trust manager's forecast by 4.2 per cent. The annualised distribution per unit (DPU) of 10.44 cents would provide a distribution yield of 5.5 per cent based on CCT's closing price on Tuesday. CCT, Singapore's largest...

CCT decides to defer redevelopment of Market Street carpark

CapitaCommercial Trust (CCT) has decided to defer the planned redevelopment of the Market Street car park. In January 2008, CCT was granted an outline planning permission by urban planners to redevelop the property into a Grade A office building. Since then, it has been working with its appointed architect and consultants to finalise and submit design plans to the Urban Redevelopment Authority. In a...

CCT to sell S$280m worth of 5-year convertible bonds

CapitaCommercial Trust (CCT) is planning to sell S$280 million worth of five-year convertible bonds. The bonds are being targeted at mainly institutional investors. CCT said it could issue more convertible bonds to raise another S$90 million. This will take the total amount raised to S$370 million. The Trust said it could also pay cash in lieu of issuing new units on conversion of the bonds. It will be...

CapitaCommercial Trust to buy 1 George Street building for S$1.2b

CapitaCommercial Trust (CCT) has been given a call option to buy the 1 George Street building for nearly S$1.2 billion. This translates to S$2,600 per square foot of net lettable area. CapitaLand will also provide yield protection to CCT, ensuring a minimum net property income of some S$50 million per annum. This means a net property yield of 4.25% per annum on the purchase price for five years until...

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