CapitaLand's CEO Liew Mun Leong has raised his stake in its unit, CapitaMall Trust, following the REIT's recent rights issue. Mr Liew almost doubled his interest in CapitaMall, increasing the number of shares held from 333,410 to 633,479. That means he now holds about 0.02 per cent of CapitaMall, up from the previous stake of 0.0105 per cent. Mr Liew is the deputy chairman and a non-executive director...
CapitaMall Trust
CapitaMall Trust said Friday its rights issue was 1.16 times oversubscribed. Under the exercise first announced in February, the real estate investment trust offered nine rights for every 10 existing units held at S$0.82 each. CMT plans to use a major portion of the proceeds to repay borrowings totalling S$956.2 million due this year. The offer closed on Wednesday. CapitaMall Trust is a unit of real...
CapitaMall Trust said its S$1.23 billion rights issue has been oversubscribed. The offer closed on Thursday, and final results will be released soon. CapitaMall Trust, a unit of CapitaLand, said last month that it would offer nine rights for every 10 existing units at 82 cents each. It said a major portion of the proceeds would be used to repay borrowings of S$956 million due this year. Source :...
Property giant seeks $3.07 billion from existing shareholders IN A move to position itself for "opportunities in distressed assets", property giant CapitaLand is looking to raise $1.84 billion in a rights issue that analysts say could be a precursor of more fundraising exercises for developers. South-east Asia's largest property developer and its subsidiary - CapitaMall Trust (CMT), which has planned a...
Singapore developer CapitaLand announced Monday that it will raise S$1.84b through a rights issue. It says eligible shareholders will be entitled to subscribe for one new ordinary share for every two existing ordinary shares held as at the book closure date of 23 February, at S$1.30 per rights share. The company said the rights issue is a strategic initiative that is consistent with its policy of...
High costs spur CapitaMall Trust to shelve expansion plans THE manager of mainboard-listed CapitaMall Trust (CMT) said it will shelve expansion plans for three of its malls due to high construction costs and the competitive environment for resources currently. CapitaMall Trust Management said CMT had planned to add office space and expand the amount of retail space at Funan DigitaLife Mall (Funan);...
Investment trusts are losing their attraction as good defensive options for investors in the current turbulent markets. As lending from banks begins to dry up, these trusts are facing refinancing difficulties. Analysts said their once attractive yields no longer seem as enticing, and real estate investment trusts (REITs) are no exception. REITs that have the backing of sponsors such as Mapletree and City...
CapitaMall Trust will distribute 3.52 cents per unit for its second quarter, up 13 per cent on year. The figure was slightly higher than expected. The mainboard-listed REIT booked a 20 per cent on-year increase in distributable income to S$58.7 million in the second quarter. CapitaMall Trust said on Thursday it is optimistic it can deliver its projected distribution of 13.9 cents for 2008. It cited...
CapitaMall Trust (CMT) has bought The Atrium@Orchard office development for about S$840 million. CMT said the purchase from the Singapore Land Authority (SLA) will be funded by a mix of debt and convertible bonds. Describing the acquisition as yield-accretive, the Trust plans to issue at least S$650 million worth of bonds. The Atrium@Orchard is a commercial development comprising two Grade A office...
CapitaMall Trust has booked a first quarter distributable income of S$58 million, up 24 per cent compared to a year ago. The growth was driven by higher rental rates on new and renewed leases for most of its malls. For the first quarter ended March 31, the property trust will distribute 3.48 Singapore cents per unit, up from the three cents distributed in the same period last year. CapitaMall Trust said...