Shopping mall developer CapitaMalls Asia has added two new malls in Qingdao, China and Japan worth a total of S$662.2 million to strengthen its presence in the region. CapitaMalls announced on Monday that it signed an agreement to acquire a site to develop its first shopping mall in Qingdao, China. It was acquired from Qingdao Vanke City Real Estate Co. Ltd and Qingdao Shuangshan Gongmao Co. Ltd. The...
Singapore REITS
Shopping mall developer CapitaMalls Asia has posted S$232 million in net profit for the second quarter of the year, up 40.7 per cent from the same period last year. CapitaMalls Asia attributed the rise in net profit to portfolio gains from its injection of two of its China assets into a private fund, as well as contributions from newly-acquired properties in Japan and China. Group revenue for the three...
Mapletree Logistics Trust Management (MLTM) has appointed Ms Ng Kiat as its new chief executive officer (CEO) with immediate effect. She replaces Mr Richard Lai, who has resigned from MLTM due to personal reasons. Mr Lai will be on leave until his last day of service on August 25. Prior to the appointment, Ms Ng was the chief investment officer, Southeast Asia at Mapletree Investments Pte Ltd. She...
Ascendas Hospitality Trust has received strong demand for its initial public offering. A total of over 437 million stapled securities were offered for subscription at S$0.88 per stapled security. At the close of the public offer at 12 noon on July 24, there were more than 17,000 valid applications for about 485 million stapled securities. The placement tranche of 355 million stapled securities, offered...
CapitaRetail China Trust (CRCT) has reported higher distribution per unit (DPU) of 2.41 Singapore cents for the second quarter of 2012. This is an increase of 12.1 per cent over the 2.15 cents in the same period last year. Gross revenue for the three months ending June 30 increased 24.3 per cent year-on-year to S$38.1 million, while net property income was up 20.9 per cent year-on-year to S$24.9 million....
Starhill Global REIT (SGREIT), owner of the Wisma Atria shopping mall in Orchard road, on Tuesday reported a 3.8 per cent increase in second quarter distribution per unit to 1.08 cents, from 1.04 cents a year earlier. Net property income for the three-month period rose 4.4 per cent to S$37.1 million. Revenue for the period ended June increased 4.8 per cent to S$46.4 million, up from S$44.2 million in the...
Mapletree Industrial Trust (MIT) on Tuesday reported a 14.1 per cent year-on-year increase in its first quarter distribution per unit (DPU) to 2.26 cents. The DPU was up from the 1.98 cents DPU it posted in the same period a year ago. Distributable income for the quarter ended June also rose by 27.1 per cent to S$36.9 million from S$29 million last year. The trust, partly-owned by Temasek Holdings,...
Ascendas India Trust has reported a 20 per cent drop in its distribution per unit to 1.20 Singapore cents for the first quarter ended June. This was mainly due to a weaker rupee which helped to reduce the trust's distributable income by 19 per cent to S$9.2 million. In the past year, the Singapore dollar has risen 20 per cent against the Indian rupee. Still, the trust's total property income rose by 3...
Asia's largest logistic facilities provider, Global Logistic Properties (GLP), says the booming e-commerce market is helping it to weather China's economic slowdown. Online retail sales in China have doubled every year for the last five years. GLP, a unit of the Government of Singapore Investment Corporation (GIC), is on an expansion drive to provide more warehouses in Chinese cities like Chengdu,...
CapitaCommercial Trust (CCT) said on Friday that its second quarter distribution per unit (DPU) rose 7.3 per cent on-year to 2.06 cents. It is its highest quarterly DPU since 2009 and comes on the back of strong revenue from its acquisition of Twenty Anson and higher rental income from HSBC Building and Raffles City Singapore. Higher yield protection income from One George Street also contributed to the...