CapitaLand on Thursday (June 5) announced that it holds more than 90 per cent of the issued shares of CapitaMalls Asia (CMA) - crossing the threshold it needs to delist its shopping mall arm. CapitaLand said in a press release that it has submitted an application to the Singapore Exchange to delist CMA, and CMA shares will be suspended from trading after on June 9, the close of its offer to buy out...
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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,...
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...
Property group CapitaLand has posted a first quarter net profit of S$182.8 million, down 1.7 per cent compared to a year ago. The lower profit was due to a S$58.7 million one-off gain recorded in the same quarter last year. Excluding the one-off gain, CapitaLand's operating net profit rose nearly 30 per cent to S$155.7 million from the first quarter of 2013. In a statement on Friday, CapitaLand...
Southeast Asia's largest developer CapitaLand has announced plans to take its shopping arm private. CapitaLand is offering S$2.22 per share for all remaining shares in CapitaMalls Asia (CMA) that it does not already own, thus valuing the planned purchase at more than S$3 billion. CapitaLand said it wants to sharpen its competitive edge in the integrated development space where it sees opportunities,...
Southeast Asia's largest developer CapitaLand has bought a 60 per cent interest in two adjacent prime residential sites in the western Chinese city of Chengdu for 752 million yuan (about S$155 million), further strengthening its presence in the world's most populous country. CapitaLand plans to build around 4,600 apartment units on the sites to cater to first-time homebuyers and upgraders. Construction...
CapitaLand has sold its remaining 39.1 per cent stake in Australia's Australand Property Group, raising around S$970.1 million. Singapore's largest developer said in a statement on Wednesday it placed out its remaining 226.2 million stapled securities of Australand at an average price of A$3.75 per stapled security. The price was a discount of 3.6 per cent to Australand's closing price on...
CapitaLand, CapitaMalls Asia and CapitaMall Trust have signed an option to sell Westgate Tower for S$579.4 million. In a filing with the Singapore Exchange, CapitaLand said the option was granted to a consortium comprising Sun Venture Homes and Low Keng Huat (Singapore), which has up to January 24 to exercise it. Located at Jurong Gateway, Westgate Tower is the office component of the Westgate...
While property cooling measures and the total debt-servicing ratio (TDSR) framework have dented demand for private housing, CapitaLand’s sales in Singapore do not seem to have been affected. CapitaLand, the largest-listed developer in South-east Asia, sold over six times more units in the traditionally quiet third quarter compared with a year ago, its earnings report showed yesterday. The company sold...