Overseas Union Enterprise (OUE)

OUE’s planned commercial REIT to include Lippo Plaza

Singapore-listed hotel and property group Overseas Union Enterprise (OUE) plans to include Shanghai's Lippo Plaza in the initial portfolio of its proposed OUE Commercial Trust. In a stock exchange filing late Wednesday night, the company says OUE Commercial Trust will buy the 36-storey Lippo Plaza in Shanghai from Hong Kong-listed Lippo China Resources. Earlier, OUE has said that its commercial REIT...

OUE eyes REIT for S’pore, China commercial properties

Real-estate developer Overseas Union Enterprise is considering setting up a commercial real estate investment trust to be listed on the main board of the Singapore Exchange (SGX), the company said yesterday. The initial portfolio of the proposed REIT is expected to include OUE Bayfront, an 18-storey office building at Collyer Quay, as well as commercial properties owned by Lippo China Resources, the...

OUE seeks up to S$614m in Singapore REIT listing

Overseas Union Enterprise, a Singapore-listed property firm controlled by Indonesia’s Riady family, is seeking to raise up to S$614 million by listing a hospitality real estate investment in Singapore, according to a prospectus for the deal. The company will offer 434.6 million shares to the public and institutions, and an additional 247.2 million to cornerstone investors at S$0.88 to S$0.90 apiece,...

OUE gets SGX approval to list REIT

Property developer Overseas Union Enterprise (OUE) has received approval from the Singapore Exchange (SGX) to list a hospitality-focused real estate investment trust (REIT). In a filing with the SGX, OUE said the REIT manager plans to appoint real estate veteran Chong Kee Hiong as chief executive officer and executive director. Mr Chong is the former CEO of The Ascott, the serviced apartment arm of...

OUE exploring setting up of REIT

Property developer Overseas Union Enterprise (OUE) is exploring the establishment of a real estate investment trust (REIT) on the mainboard of the Singapore Exchange (SGX). In a filing with the SGX on Thursday, OUE confirmed that it is in "preliminary discussions" with banks. But the property developer added that details such as the properties to be injected into the REIT, the pipeline assets of the...

Overseas Union Enterprise considering REIT IPO

Overseas Union Enterprise (OUE) is planning to raise up to S$1 billion from the listing of its hospitality assets in Singapore this year, Dow Jones Newswires reported, citing two people with knowledge of the deal. OUE could launch an initial public offering for a hospitality-focused real-estate investment trust (REIT) in the third quarter of the year, the sources said, according to the report. A...

F&N gets cash offer for serviced-residence & hospitality business

Singapore's Fraser and Neave has received an unsolicited cash offer from an unidentified party for its serviced-residence and hospitality business. The conglomerate said the S$1.4 billion (US$1.1 billion) offer is unrelated to any director or substantial shareholder of F&N. Last month, TCC Assets, which is linked to Thai Beverage, offered S$8.88 a share for the entire F&N business, valuing the...

OUE confirms buyer interest in Mandarin hotel and gallery

Singapore-listed property developer Overseas Union Enterprise (OUE) said it has been approached by some potential buyers for its Mandarin Orchard Singapore hotel and the adjoining Mandarin Gallery mall. In a filing on the Singapore Exchange on Wednesday, OUE said it has offered an unnamed potential buyer exclusivity to conduct preliminary due diligence on the two properties. The developer added that it...

OUE’s Q2 net profit up 13.3%

Overseas Union Enterprise posted a 13.3 per cent on-year increase in net profit to about S$22.8 million for the second quarter ended June 30, 2012. Revenue for Q2 was up by 33.8 per cent to some S$96.7 million, compared to the previous year. In a stock exchange filing, OUE said the increase in revenue was mainly driven by the hospitality and the property investment divisions. The hospitality division...

OUE plans to invest in 2 retail malls in CBD: report

Developer Overseas Union Enterprise (OUE) is set to invest in excess of S$140 million on two retail mall projects in the central business district. Among the plans, OUE will be developing a five-storey retail mall at the existing DBS Building at Shenton Way, according to a source close to the matter. Built in 1975, DBS Building at Shenton Way will soon be home to a new shopping mall, spanning some...

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