India's real estate market is tougher compared with China as the pace of doing business in the country is slower, according to CapitaMalls Asia (CMA). The retail property unit of CapitaLand, South-east Asia's largest developer, has 2 per cent of its assets in India, said CMA chief executive officer Lim Beng Chee. China makes up 42 per cent of its S$6.67-billion assets, the biggest after its home market...
CapitaMalls Asia
CapitalMalls Asia is getting a headstart on the corporate bond market this year, with a S$200 million sale that the company hopes will be snapped up by retail and institutional investors alike. Lim Beng Chee, CEO of CapitaMalls Asia, said: "If you look at our balance sheet, as of today, our gearing is still relatively low. And as part of the corporate development, it is good to tap on some debt capital....
Singapore-listed mall developer CapitaMalls Asia (CMA) said it will jointly develop the largest shopping mall in Suzhou, China through a joint venture with a Chinese partner. In a stock exchange filing, the mall developer said it will have a 50 per cent stake in the venture and will share half the costs of around S$686 million. The project development will cost about S$1.3 billion. CMA signed the...
Singapore shopping mall developer Capita-Malls Asia said yesterday its third-quarter net profit fell 30.3 per cent from a year earlier mainly due to higher finance expenses and absence of gains from sold assets. Net profit for the three months ended September was S$36.5 million, compared with a restated S$52.4 million, the company said. The company restated comparative figures from 2010 after adopting a...
Singapore-listed mall developer CapitaMalls Asia made its debut on the Hong Kong main bourse on Tuesday. The counter was listed by way of introduction, which means no new shares were issued or funds raised. The shares closed at HK$7.79 on the Hong Kong bourse. By comparison, the counter settled at S$1.24 a share on the Singapore bourse. Taking into account the exchange rate difference, the Hong Kong...
CapitaMalls Asia said its multi-billion dollar investments in China won't contribute much to its earnings in the near-term. The property developer played host to some of its tenants at a convention in Singapore on Wednesday. While Japanese exporters may be hurting from gains in the yen, the currency's strength has given Daiso - market leader of 100 yen shops - reason to cheer. Mr Hirotake Yano,...
Singapore-listed mall developer CapitaMalls Asia has received in-principle approval for a secondary listing in Hong Kong. It plans to list by way of introduction, without raising any new equity, on the mainboard on October 18. CapitaMalls Asia may not be raising new capital from its listing in Hong Kong, but the move will allow the mall developer to widen its investor base here in Hong Kong and by...
CapitaMalls Asia said yesterday it has signed a conditional agreement to form a joint venture to develop a shopping mall and office tower project worth about S$1.28 billion in Suzhou in Jiangsu province. CapitaMalls Asia, a subsidiary of CapitaLand, will jointly develop and own a shopping mall and two office towers on a site in Suzhou Centre with Suzhou Industrial Park Jinji Lake Urban...
CapitaMalls Asia has acquired the remaining 50 per cent stakes in two properties in Shanghai for S$949.7 million. The property developer has entered into conditional agreements whereby it will acquire the remaining 50 per cent stakes each in Minhang Plaza and Hongkou Plaza. In a filing on SGX, CapitaMalls Asia said together with its associates, it will have full interests in the two integrated...
Singapore shopping mall developer CapitaMalls Asia said its second-quarter net profit has doubled on-year. In a filing to the Singapore Exchange, the company said its net profit came in at S$164.9 million for the second quarter, up from S$82.1 million a year ago. This is due to fair value gains, contributions from associates, and a revised accounting policy, it said. But its revenue declined 14 per cent...