Mainboard-listed ARA Asset Management and CWT said their joint venture REIT has obtained a letter of eligibility to list its units on the Singapore Exchange (SGX). The joint venture REIT, called Cache Logistics Trust or CLT, will invest principally in logistics properties in the Asia Pacific region. It will be managed by ARA-CWT Trust Management, which is 60 per cent owned by ARA and 40 per cent by...
REITS
CapitaMalls Asia has agreed to buy the Meili Mall in Chengdu for about S$95 million. The seller is Chengdu Vanke Property. Including fitting out works, CapitaMalls Asia's estimated total expenditure on the mall is S$106.9 million. The mall is part of a mixed-use development, comprising retail and residential components. It is currently being developed by Chengdu Vanke Property and expected to be...
CapitaMalls Asia's net profit in 2009 jumped 235 per cent on-year to S$388 million. In its maiden full-year results since listing last November, CapitaMalls Asia said the boost to the bottom line came mainly from its China market. It also said it may benefit from the recent moves by the Chinese government to tighten credit. Consumer spending in Asia has remained robust despite the economic downturn,...
CapitaRetail China Trust will pay 8.14 cents per unit for the full year 2009, up 8.1 per cent from a year ago. Its distributable income for the year rose 11.6 per cent on-year to S$51.2 million, while net property income went up 5.4 per cent. Chinese consumers continued to spend through the global recession last year, and that helped sales of consumer goods in China, excluding cars, to grow about 14 per...
Mainboard-listed Frasers Centrepoint Trust (FCT) plans to raise up to S$182.2 million in a private placement. It said on Tuesday that it will launch a placement of 137 million new units at an issue price between S$1.29 and S$1.33 per new unit. This means it would raise gross proceeds of between S$176.7 million and S$182.2 million. The issue price of the new units represents a discount of between 3.7 per...
Healthcare real estate investment trust, First REIT, reported Friday that its fourth quarter and full year distribution was little changed. Its distribution per unit (DPU) for the fourth quarter was 1.92 Singapore cents, just one per cent lower than the 1.94-cent DPU announced over the same period a year ago. For the full year, DPU was unchanged at 7.62 Singapore cents. In terms of its net property...
Singapore-listed Parkway Life real estate investment trust (REIT) has reported a fourth quarter distribution per unit (DPU) of 2.05 Singapore cents, up 11.6 per cent from a year ago. Net property income for the three months ended December grew 9.2 per cent to S$16.5 million. For the full year, net property income was up 23.1 per cent at S$61.9 million. Parkway Life said the higher revenue was due mainly...
CapitaMall Trust (CMT) said it will pay 2.4 Singapore cents per unit for its fiscal fourth quarter. The distribution per unit (DPU) is 24.4 per cent higher than a year ago, after adjusting for a rights issue last year. Shoppers were still thronging the malls last year, despite Singapore's economic recession. And that was good news for CMT, which saw positive growth for the year ended 2009. For the full...
Mapletree Logistics Trust has acquired a warehouse at Changi South Street for S$34 million. The acquisition is expected to be completed in the first quarter of this year. The vendor of the property is CEVA Freight, which will lease back the property for an initial term of five years, with an option to extend for another five years. Its rental will rise two per cent per year from the second...
Mapletree Logistics Trust has reported a fourth quarter distribution per unit of 1.59 cents, up 8.9 per cent from a year earlier. Included in the amount distributable was a S$2.5 million consideration from Prima Limited for the extension of the lease at a Singapore property. This forms part of the amount distributable as it is part of Mapletree's taxable income for financial year 2009. As a result, the...