CapitaMalls Asia has priced an issue of S$350 million unrated fixed rate notes at 3.95 per cent. The notes will mature on August 24, 2017, and the interest on the notes is payable half-yearly in arrears. This is the first series of notes issued under a S$2 billion Euro-Medium Term Note Programme established by CapitaMalls Asia Treasury in April this year. Under the programme, CapitaMalls Asia Treasury...
REITS
Singapore-listed Parkway Life Real Estate Investment Trust has reported a second quarter distribution per unit of 2.09 Singapore cents, up 10.9 per cent from a year ago. Net property income for the three months ended June grew 15.6 per cent to S$17.3 million. For the first half of the year, net property income was up 14.5 per cent at S$34.5 million. Parkway Life says the higher revenue was due primarily...
Cost efficiencies and incentives encouraging firms to domicile within city-state's borders THE story of Singapore as a resilient and fast-growing financial centre is not a new one. The new story, however, is that Singapore is quickly becoming Asia's real estate investment trust (Reit) hub. A Reit is a fund that allows individual investors to participate in large real estate ventures, such as acquiring...
Singapore-listed CapitaMalls Asia said its second quarter net profit fell 23.7 percent to S$113 million. However revenue over the period grew 31.9 percent to S$73 million. The drop in earnings was attributable to the lower revaluation gain of its properties as compared to the second quarter a year ago. It also received a lower share of results from its three Chinese private equity funds, which was...
Newly-listed CapitaMalls Malaysia Trust wants to ride on strong consumer spending in urban centres like the Malaysian capital Kuala Lumpur. It plans to acquire at least one or two more shopping malls in Kuala Lumpur and double its fund size to more than 4 billion ringgit, or nearly US$1.6 billion, in less than five years. Shopping is one of the favourite past times in the Malaysian capital and...
CAPITACOMMERCIAL Trust (CCT) reiterated last week that it will not distribute a special payout to unit-holders when it completes its $380 million sale of StarHub Centre in September. Likewise, it did not return proceeds to shareholders when it completed the sale of Robinson Point in April. The trust has said it is setting aside the net cash proceeds from these two divestments - totalling about $577.5...
Mainboard-listed CDL Hospitality Trusts on Wednesday reported a higher distribution per unit (DPU) for the second quarter ended in June. It announced a DPU of 2.57 cents for the period, a 36 per cent on-year jump compared to last year's 1.89 cents. Distributable income rose by 38.7 per cent on-year to S$24.1 million while net property income increased 49.2 per cent on-year to S$28.7 million. The Trusts...
Frasers Commercial Trust on Wednesday announced a distribution per unit of 0.25 cents for the fiscal third quarter. This is an increase of 39 per cent compared to a year ago. Meanwhile, net property income for the period grew 33 per cent to S$22.7 million and distributable income rose 39 per cent to S$7.7 million. The growth was mainly due to contributions from Alexandra Technopark, the strengthening of...
Mapletree Logistics Trust has been agreed to acquire the following properties in Japan Kabushiki Kaisha A-Max to acquire the following properties in Japan: * Iwatsuki Logistics Centre: a distribution centre with ancillary office located in Iwatsuki, Saitama Prefecture with gross floor area (GFA) of 30,000 sqm. * Iruma Logistics Centre: a distribution centre with ancillary office with GFA of 26,000 sqm,...
Starhill Global REIT has reported a second quarter distribution per unit of 0.91 cent. This was 4.2 per cent lower than the restated 0.95 cent recorded in the previous corresponding period. Starhill's distributable income for the second quarter fell 3.6 per cent to S$17.7 million. Its net property income rose 6.9 per cent to S$28.9 million. Starhill said the increase was mainly due to its newly...