Parkway Life Real Estate Investment Trust (PLife REIT) posted a 28.3 per cent rise in its Q3 gross revenue on-year, to S$21.2 million. It said its higher revenue was mainly due to additional revenue contribution amounting to S$1.8 million from its Japanese properties. The properties were acquired in the fourth quarter of 2009. PLife REIT also reported its Q3 net property income rose 26.5 per cent...
REITS
At least five real estate investment trusts (Reits), each worth around $500 million or more, are expected to list over the next six months, according to DBS Group Holdings. More dual listings of Reits might also be on the cards, after China firms up guidelines for the sector. Eng Seat Moey, managing director and head of DBS Bank's asset-backed structured products, said 'You can expect a lot more initial...
DBS Bank said it continues to be the leading underwriter of Singapore-listed real-estate investment trusts (REITs). The bank said it is leading the pack with a 30.2 per cent market share so far this year. Citigroup is second with a 22.9 per cent market share, followed by Standard Chartered Bank, which has garnered an 18.1 per cent share in REIT underwriting this year. DBS has underwritten about S$2.2...
Mainboard-listed CDL Hospitality Trusts on Friday reported a higher distribution per unit (DPU) for the third quarter ended in September. It announced a DPU of 2.54 cents for the period, a 24.5 per cent jump compared with 2.04 cents in 2009. Distributable income rose 44.6 per cent to S$26.9 million, as net property income increased 40.9 per cent from a year earlier to S$30.1 million. The higher revenue...
CapitaMalls Asia (CMA) on Thursday reported a net profit of S$68 million for the third quarter. This is a 14 per cent increase from a year earlier. However, revenue for the same period slipped 22.1 per cent to S$42.5 million. CMA said the fall in revenue was mainly because of the divestments of three Malaysia malls to CapitaMalls Malaysia Trust, and Clarke Quay to CapitaMalls Trust. The company said...
Cache Logistics Trust has posted a distribution per unit (DPU) of 1.94 Singapore cents for the fiscal third quarter and net property income for the quarter was S$14.36 million. This represents an increase of around 13.5 per cent when compared with the previous quarter. Meanwhile, distributable income came in at S$12.3 million, a 13.5 per cent increase from the quarter before. The Cache portfolio...
Frasers Centrepoint Trust (FCT), a wholly-owned unit of Fraser and Neave Group, will acquire Bedok Point Mall from its parent company by Q2 next year, said Chew Tuan Chiong, chief executive of FCT. In January, FCT paid Frasers Centrepoint approximately $290 million for two malls, the YewTee Point at Choa Chu Kang and an extension to Northpoint at Yishun through the issuance of new units and taking on more...
Frasers Centrepoint Trust (FCT) has announced its full-year distribution per unit (DPU) of 8.2 cents. That's 9.2 per cent higher than the DPU of 7.51 cents achieved in the previous financial year. Distributable income for the year ended September 30 rose 26.1 per cent to S$59.1 million. Net property income jumped 33.7 per cent to S$80 million. FCT said the increase in revenue was boosted by the...
Suntec Real Estate Investment Trust (Suntec REIT) is acquiring a one-third stake in Marina Bay Financial Centre for S$1.5 billion. Under the transaction, Suntec REIT will purchase Marina Bay Financial Centre Tower 1 and 2, the Marina Bay Link Mall and 695 car park lots. The REIT has entered into a conditional share purchase agreement for the property with Choicewide Group Limited, Cavell Limited and...
Starhill Global REIT on Tuesday said that its distribution per unit (DPU) for the third quarter improved by 5.3 per cent. It announced a DPU of 1 cent, up from the 0.95 cent declared in the year-ago period. Distributable income rose by 5.8 per cent on-year to S$19.4 million, while net property income was up by 37 per cent on-year to S$35.8 million. Starhill said the improvement in net property income is...