If the stellar performance of Mapletree Greater China Commercial Trust on its trading debut was anything to go by, experts say real estate investment trusts (REITs) will continue to be popular investment vehicles in Singapore. They add that Singapore's strong currency and diversified offerings are among the sector's biggest draws. REITs provide annual returns ranging from 2% to 6% - higher than placing...
Singapore REITS
Mapletree Greater China Commercial Trust (MGCCT) - Singapore's largest share sale in two years - jumped by as much as 12.4 per cent on its trading debut on Thursday. The REIT, the fourth sponsored by Mapletree Investments, opened at S$1.02 and closed the session at S$1.03 - some 10.7 per cent higher than its initial public offering price of S$0.93 per unit. The REIT was nearly 30 times oversubscribed and...
The initial public offering of Singapore's largest real estate investment trust has been fully snapped up. Units of Mapletree Greater China Commercial Trust is nearly 30 times subscribed at the close of the public offer. The Reit offered a total of about 776.6 million units at 93 cents each, raising some S$1.7 billion. There was strong demand for both the placement and public tranches. And even the...
Overseas Union Enterprise (OUE) is planning to raise up to S$1 billion from the listing of its hospitality assets in Singapore this year, Dow Jones Newswires reported, citing two people with knowledge of the deal. OUE could launch an initial public offering for a hospitality-focused real-estate investment trust (REIT) in the third quarter of the year, the sources said, according to the report. A...
The stage has been set for Singapore's largest initial public offering of a real estate investment trust (REIT). Mapletree Greater China Commercial Trust has locked in a top price of 93 cents a share for its IPO, and it will raise up to S$1.7 billion from the listing. The offering is Singapore's largest IPO in two years, since Hutchison Port Holdings Trust raised US$5.5 billion in March 2011. It is also...
Temasek-owned Mapletree Investments is planning to raise as much as S$1.6 billion in gross proceeds from a planned initial public offering of a Greater China-focused real estate investment trust (REIT). Scheduled to list on the Singapore Exchange on March 7, Mapletree Greater China Commercial Trust could potentially be Singapore's largest initial public offering in two years. In a preliminary prospectus...
Perennial China Retail Trust (PCRT) has posted S$43.6 million in amount available for distribution to unitholders for the year ended December 31. This brings its full-year distribution per unit to 3.86 Singapore cents. For the fourth quarter, amount available for distribution to unitholders was S$11.2 million. The China-focused retail development trust said distributable income for the full year was...
Shopping mall developer and operator CapitaMalls Asia announced on Thursday a 10 per cent on-year decline in its fourth-quarter net profit. The company attributed the drop mainly to lower fair value gains from investment properties in China and Singapore, as well as impairment losses in India and higher finance costs. Net profit for the quarter fell to S$184.8 million from S$205.4 million a year...
Global Logistic Properties (GLP) has reported a 31 percent on-year rise in third quarter net profit to US$113 million. The logistic facilities provider benefited from a strong lease-up of development projects as well as rental growth in China. Group revenue rose 20 percent year-on-year to US$174 million in the three months ended December Mr. Ming Z. Mei, Co-Founder and Chief Executive Officer of GLP,...
Far East Hospitality Trust has announced a higher distribution per unit (DPU) from its earlier forecast. At its maiden results briefing, the trust says DPU per stapled security will be 2.09 cents. This compared to its forecast of only 2 cents during its initial public offering (IPO) in August. The higher distribution comes on the back of a rise in income available for distribution of S$33.6...