Singapore-listed real estate investment trusts (Reits) are shaping up to be among the top choices for investors in the new year. Thanks to the improved economy and low interest rates, Reits have refinanced their debt and made aggressive acquisitions this year. Their overall business has also strengthened on the back of rebounding rental rates. The FTSE ST Reits index, which measures the value of 17...
Singapore REITS
Singapore's healthcare real estate investment trust First REIT on Friday said it has completed the acquisition of two Jakarta hospitals. The two new Indonesian healthcare properties include the Mochtar Riady Comprehensive Cancer Centre as well as Siloam Hospitals Lippo Cikarang, a six-storey hospital that began operations in 2002. With these acquisitions, First REIT said it has crossed a significant...
Global Logistic Properties (GLP) will acquire a 19.9-per-cent stake in Shenzhen Chiwan Petroleum Supply Base, for $91 million, in a move that will strengthen its market position in China. GLP, a unit of the Government of Singapore Investment Corp, said the stake would be acquired through its subsidiary, China Logistics Holding. The subsidiary has entered into an agreement to buy 45.89 million shares for...
CapitaMalls Asia is acquiring Penang's largest mall -- Queensbay Mall -- for RM658.3 million (S$275.6 million). It will be the firm's second mall in Penang and its fourth in Malaysia. The acquisition will be carried out through CapitaMalls Asia's subsidiaries with an asset-backed securitisation structure, the company said. CapitaMalls Asia will acquire 90.7 per cent of the Queensbay Mall's retail strata...
Merger and acquisition activity in Singapore almost doubled this year compared with 2009, led by financial services and real estate, according to Thomson Reuters data. Total value of announced deals stood at 40.7 billion US dollars, which included SGX's proposed 8-billion-dollar takeover offer for the Australian Securities Exchange. Analysts say real estate is likely to dominate the M&A scene next...
K-REIT Asia's swap of Keppel Towers and GE Tower for a one-third stake in Marina Bay Financial Centre (MBFC) has received overwhelming support of 98 per cent. Its unitholders voted for the swap at an extraordinary general meeting on Wednesday. The sale of Keppel's one-third interest in Phase One of MBFC to K-REIT aroused some concerns among investors. They said the MBFC purchase consideration could have...
MapleTree Logistics said it has acquired 44 and 46 Changi South Street 1 for S$16.8 million from JEP Precision Engineering. JEP Precision Engineering is a local sub-contractor in the aerospace industry, specialising in machining aircraft engine components. JEP will lease back the property for a period of seven years with an option to extend for a further term of seven years. MapleTree can also increase...
Suntec Real Estate Investment Trust is launching a private placement of between 310.7 million and 320 million new units at an issue price of between $1.34 and $1.38 each. In a stock exchange filing yesterday, Suntec REIT said the net proceeds of the placement would amount to around $417.9 million, after deducting estimated fees and costs. This amount will be used to finance part of the REIT's $1.49...
Global Logistic Properties Ltd (GLP), reported on Monday its second quarter net profit rose 179 percent from a year ago, helped by higher rental income, a stronger yen and revaluation gains. GLP, a real estate unit of the Government of Singapore Corp, owns warehouses and other logistics assets in China and Japan Net profit for the quarter ended September 30 rose to US$74.2 million compared with US$37.4...
The world's largest Shari'ah-compliant REIT by total assets opened to a sluggish start on its first day of trade in Singapore because of weak market sentiment. Sabana Industrial Real Estate Investment Trust or Sabana REIT closed its first day of trade at S$1.02. That's 2.8% lower than the IPO price of S$1.05. While it may have been a tepid debut for Sabana REIT, some analysts said they expect strong...