Ascott Residence Trust announced on Thursday that its distribution per unit (DPU) for the fourth quarter is 1.87 Singapore cents. That is 11 per cent better than the 1.69 cents DPU declared over the same period a year ago. Unitholders' distribution for the fourth quarter amounted to S$11.5 million, up 12 per cent on-year. The higher distribution in the fourth quarter came despite revenue falling 2 per...
REITS
K-REIT Asia said it will distribute 5.75 Singapore cents a unit for the quarter ended December. That's 9.7 per cent higher from a year ago. The commercial property investor said its distributable income for the quarter totalled S$19.4 million, up from S$17.4 million a year earlier. K-reit said net property income rose 13.6 per cent in the fourth quarter to S$13.4 million. Net property income for the...
CapitaCommercial Trust (CCT) said it will pay 1.88 Singapore cents per unit for its fiscal fourth quarter. The distribution per unit is 38 per cent higher than a year ago, after adjusting for a rights issue last year. The commercial rental market improved over the course of 2009, resulting in higher rental income for CCT from positive rent reversions. The acquisition of Wilkie Edge office building in...
CapitaCommercial Trust (CCT) will receive a total of S$9.3 million from Capitaland Commercial Limited (CCL). The money for the year ended 31 December 2009 is the yield protection amount in relation to the property, One George Street. CCT had bought the asset from CCL and under the terms of the deal, CCL agreed to provide a yield protection to CCT if it falls below a certain amount. As the net property...
Ascendas REIT said its third quarter distribution per unit (DPU) grew 13.5 per cent. The trust said in a statement that unit-holders will receive 3.27 Singapore cents per unit for the three months ended December, compared with 2.88 cents a year earlier. This came on the back of higher gross revenue which rose 3 per cent to S$105.1 million. Net property income for the period also increased 10 per cent to...
Mainboard-listed Frasers Centrepoint Trust (FCT) plans to acquire two shopping malls in Singapore for S$290.2 million. It will buy Northpoint 2 and YewTee Point from Yishun Development, a wholly-owned subsidiary of its parent, Fraser and Neave. FCT is proposing an equity fund raising of up to 152 million new units to partly finance the acquisitions, with the balance to be funded by borrowings. The...
First Real Estate Investment Trust or First REIT said that it has terminated the option agreement to buy a property at Tuas View Lane from Tech-Link Storage Engineering. The sale and leaseback deal was to be completed by end last year but the two parties were unable to agree on the purchase price and leaseback terms. The option fee will be refunded to HSBC Institutional Trust Services as trustee of the...
The manager of CapitaCommercial Trust said it has appointed a new head of Finance. The current Finance head, Edward Bin, is being transferred to CapitaLand Commercial to assume the role of vice president of Finance. He will be replaced at CCT by Annie Chua, who is currently the Reit's deputy head of finance. CCT said she is an experienced finance professional who's 20 years in finance and treasury...
Mainboard-listed Saizen REIT said on Monday that it has repaid some S$71.3 million loan of a unit, Yugen Kaisha Shingen. It made the repayment last Friday. Giving an update, the REIT said it has fully deployed the net proceeds of about S$41.1 million from the rights issue in making the repayment. It had also utilised its internal cash resources in paying back the money. Saizen REIT's rights issue was...
WHAT exactly does it mean when a Reit is taken over? In the case of other corporate entities, it's fairly clear that when a general offer is made after the 30 per cent trigger point is reached, control of the company and the subsequent economic decision-making will pass into the hands of the successful takeover party. With Reits though, the situation is not as clear - mainly because economic...