Cambridge Industrial Trust (CIT) on Friday (Jan 16) reported a 0.6 per cent on-year rise in distribution per unit (DPU) of 5.004 Singapore cents for the financial year ended Dec 31, 2014. CIT's gross revenue increased 3 per cent to S$99.3 million for the year, while net property income declined 3.2 per cent to S$77.8 million as a result of higher property expenses due to the conversion of several...
Singapore REITS
Centurion Corp, which owns and manages worker hostels in Singapore and Malaysia, is considering spinning off some of its assets via a real estate investment trust (REIT) to free up capital for expansion. In a filing with the Singapore Exchange (SGX) on Friday (Jan 16), Centurion said it is exploring a possible REIT listing with the help of Barclays, United Overseas Bank and UOB Kay Hian. Centurion,...
Mainboard-listed Croesus Retail Trust said it has increased its currency hedging efforts as the Japanese yen weakens against the Singapore dollar, hitting earnings from retail properties in Japan. The business trust also hopes that rising property prices in Japan could help mitigate the foreign exchange risk, Channel NewsAsia reports. The seven retail properties in Japan are Aeon Town Moriya, Aeon Town...
Parkway Life Real Estate Investment Trust (PLife REIT) has sold seven nursing homes in Japan for ¥7.95 billion (S$88.3 million) as part of a plan to divest assets of less strategic value. PLife REIT said in a statement on Friday (26 Dec) it expects to recognise an estimated divestment gain of approximately S$12.3 million. "The proceeds received from the divestment will further strengthen PLife...
Perennial Real Estate Holdings said late on Monday (Dec 22) it has gained control of 96.32 per cent of Perennial China Retail Trust at the close of its takeover offer. Trading in Perennial China will be suspended from Tuesday, and Perennial Real Estate will exercise its right to compulsorily acquire the remaining Perennial units at the offer price of S$0.70, to be satisfied by the issuance of 0.52423...
Parkway Life Real Estate Investment Trust (PLife REIT) has purchased a nursing home and care facility property in Japan, its second acquisition in the fourth quarter of 2014, it announced in a press release on Friday (Dec 19). PLife REIT purchased Ocean View Shonan Arasaki for ¥1,700 million (S$18.9 million) from Oueikikaku Kabushiki Kaisha. This follows an earlier acquisition of Habitation Jyosui,...
The hotly anticipated initial public offering (IPO) of Keppel DC REIT was launched on Friday (Dec 5). The Reit will be managed by Keppel DC Reit Management, a wholly owned subsidiary of Keppel Telecommuncations and Transportation (Keppel T&T), which owns the data centres. Its final prospectus was registered with the Monetary Authority of Singapore in relation to its proposed listing on the Main Board,...
OUE Hospitality Trust (OUE H-Trust), which owns Mandarin Orchard Singapore and the adjoining Mandarin Gallery, will buy Crowne Plaza Changi Airport and the Crowne Plaza Changi Airport Extension for a total of S$495 million. It said on Friday (Nov 28) that conditional agreements have been made to acquire Crowne Plaza Changi Airport for S$290 million, as well as the extension for another S$205 million...
Keppel Telecommunications & Transportation (Keppel T&T) is planning to list Keppel DC REIT on the Mainboard of the Singapore Exchange (SGX). Keppel T&T Chief Executive Officer Thomas Pang said on Monday (Nov 10): "There has been a surge in demand for data centres, driven by a growth in e-commerce, cloud computing, and big data. “Increasingly, these new generation data centres are also required to...
The managers of Singapore's largest real estate investment trusts (REITs) have set up an association to promote greater awareness among investors as well as to represent the REIT industry in their dealings with authorities. Called the REIT Association Singapore (REITAS), the industry grouping is headed by Mr Chua Tiow Chye, the Group Chief Investment Officer and Regional Chief Executive Officer of North...