YTL Pacific Star, the manager of Starhill Global REIT, said it is buying two properties in the Malaysian capital Kuala Lumpur for a total of S$450 million. The two properties are the Starhill Gallery and Lot 10 Shopping Centre along KL's main shopping street, Jalan Bukit Bintang. Starhill Gallery will be acquired for about S$275 million and Lot 10 will be bought for S$175.2 million. The acquisitions...
Singapore REITS
CapitaCommercial Trust (CCT) on Friday reported that its first quarter distribution per unit (DPU) stood at 1.93 cents. CCT said the DPU, which has been adjusted for rights issue, is 19.1 per cent higher than the 1.62 cents achieved a year ago. Distributable income for the three months ended March 31 rose 19.7 per cent to S$54.3 million. CCT said higher rental contribution from the trust's properties...
SHOPPING mall owner and operator CapitaMalls Asia has seen its first-quarter profits surge more than 800 per cent on the back of gains in key markets. Its assets in Singapore, China and Malaysia helped push net profit for the three months to March 31 to $96.8 million, as compared to $10.3 million for the same period a year ago. Revenue jumped by 41 per cent to $74.6 million, in contrast to $52.9 million...
Mainboard-listed CapitaMalls Asia (CMA) has posted a first quarter net profit of S$96.8 million, up more than nine-fold from a year ago. Revenue in the first three months of its fiscal year rose 41 per cent to S$74.6 million. The increase was due to profit recognition from the sale of The Orchard Residences apartments in Singapore as well as contributions from its ION Orchard mall. Fair value gain on...
Indian firms Unitech, DLF revisiting prior shelved offerings The success of Singapore's Cache Logistics Trust offering this month has prompted talk that other similar, previously shelved real estate investment trust (Reit) offerings are now being dusted off. India's top real estate firms, DLF Ltd and Unitech Ltd may revive their Singapore IPO plans, banking sources said, while the Embassy Group is...
Cache Logistics Trust (CLT), the first pure logistics real estate investment trust (Reit) to be launched in 2.5 years, had a bright debut in the Singapore Exchange (SGX) on Monday. The counter ended its first trading day at 95.5 cents up 8.5 per cent from its offer price of 88 cents. The stock also hit as high as 99.5 cents during intra-day trading before some profit taking activity pared off part of its...
Mainboard-listed CapitaMalls Asia said it has established a S$2 billion Euro-Medium Term Note Programme which will be unconditionally guaranteed by the company. Net proceeds from the issuance will be used to refinance existing borrowings, to fund investments and for general working capital. CMA said under the programme, it may issue notes in series or tranches in Singapore dollars, US dollars, Euro or...
2 ways to ride on India market: replicate Reit or pump in properties EVEN as Fortis Healthcare and Parkway Holdings are pondering over the possible synergies that the healthcare partners can leverage on from their new relationship, one analyst has suggested that they look into real estate too. Simranjit Singh, director of healthcare practice at Frost & Sullivan Asia Pacific, said that with the India...
WE refer to the article 'Qatar SWF snaps up top Singapore hotel' (BT, April 7). While the article states that Qatari Diar has acquired a stake in the Fairmont Raffles hotel chain, it implied that Fairmont Raffles will also take ownership of one of the chain's Singapore hotels - namely Swissotel The Stamford, Fairmont Singapore and Raffles Hotel. Swissotel The Stamford and Fairmont Singapore are hotels...
ANOTHER real estate investment trust (Reit) is headed for the local bourse, this time focusing on logistics properties. Cache Logistics Trust plans to raise $417.2 million through an initial public offering (IPO) of 474.1 million units. Of these, 41 million units will be offered to the public. It is the first Reit to list on the SGX mainboard after the recent global financial crisis - and it is set to...