Singapore property giant CapitaLand has crossed the shareholding threshold that will allow it to compulsorily acquire the remainder of CapitaMalls Asia (CMA). As at 5pm on 6 June, CapitaLand and concert parties own or have agreed to buy 97.1 percent of CMA's issued share capital -- above the 97.02 percent level that will allow the compulsory acquisition, a spokeswoman said on Sunday. CMA shares will...
CapitaMalls Asia
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...
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...
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,...
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...
CapitaMalls Asia reported a profit after tax and minority interest (PATMI) of S$245.6 million in the second quarter of 2013. This marked a 5.9 per cent growth over the previous year. According to CapitaMalls Asia, its improved profitability was due to contributions from new malls, asset enhancement initiatives and acquisitions of stakes in four Japan malls in 2012, as well as profit recognition for...
CapitaMalls Asia Limited has won a tender to acquire Grand Canyon Mall in Beijing, China for RMB 1.74 billion (S$356.6 million). The acquisition is subject to approval of the Chinese government. In a news release, the company said the Grand Canyon Mall is an operating mall located in the Fengtai District. The area has a population of about 2.2 million and is one of six core districts in...
Shopping mall developer and operator CapitaMalls Asia announced on Thursday a 10 per cent on-year decline in its fourth-quarter net profit. The company attributed the drop mainly to lower fair value gains from investment properties in China and Singapore, as well as impairment losses in India and higher finance costs. Net profit for the quarter fell to S$184.8 million from S$205.4 million a year...