They posted returns of 85.6%; Asian Reits performed well as a region: study REAL estate investment trusts (Reits) in Singapore have outperformed their counterparts in other major markets in terms of total returns in 2009, according to a report released yesterday. Ernst & Young's study showed that Reits Singapore and Hong Kong posted returns of 85.6 per cent and 64.5 per cent respectively in...
Singapore REITS
Mainboard-listed Ascendas Real Estate Investment Trust or A-Reit said it will buy three new properties totalling S$228.5 million. It has signed two sale and purchase agreements as well as a memorandum of understanding for the purchase of a property under development. Under one sale and purchase agreement, A-Reit will acquire DBS Asia Hub located at Changi Business Park Crescent for S$116 million. This...
Mainboard-listed Saizen REIT on Thursday said it has proposed not to declare any distribution for its second quarter after reporting a loss. Net loss for the three months ended in December was 94.3 million yen or about S$1.48 million. That was in sharp contrast to a 214.6 million yen profit made over the same period a year ago. Saizen REIT said it saw a loss in the divestment of its properties, leading...
CapitaMall Trust (CMT) has acquired riverfront development Clarke Quay from sister company CapitaMalls Asia for S$268 million. CMT said it has sufficient financial flexibility and capacity to fund the transaction, which is targeted for completion by July 2010. Assuming the transaction is fully funded by debt, CMT's gearing would be 33.1 per cent - still within its target range of 30 to 35 per cent. CMT...
Mainboard-listed ARA Asset Management and CWT said their joint venture REIT has obtained a letter of eligibility to list its units on the Singapore Exchange (SGX). The joint venture REIT, called Cache Logistics Trust or CLT, will invest principally in logistics properties in the Asia Pacific region. It will be managed by ARA-CWT Trust Management, which is 60 per cent owned by ARA and 40 per cent by...
CapitaMalls Asia has agreed to buy the Meili Mall in Chengdu for about S$95 million. The seller is Chengdu Vanke Property. Including fitting out works, CapitaMalls Asia's estimated total expenditure on the mall is S$106.9 million. The mall is part of a mixed-use development, comprising retail and residential components. It is currently being developed by Chengdu Vanke Property and expected to be...
CapitaMalls Asia's net profit in 2009 jumped 235 per cent on-year to S$388 million. In its maiden full-year results since listing last November, CapitaMalls Asia said the boost to the bottom line came mainly from its China market. It also said it may benefit from the recent moves by the Chinese government to tighten credit. Consumer spending in Asia has remained robust despite the economic downturn,...
CapitaRetail China Trust will pay 8.14 cents per unit for the full year 2009, up 8.1 per cent from a year ago. Its distributable income for the year rose 11.6 per cent on-year to S$51.2 million, while net property income went up 5.4 per cent. Chinese consumers continued to spend through the global recession last year, and that helped sales of consumer goods in China, excluding cars, to grow about 14 per...
Mainboard-listed Frasers Centrepoint Trust (FCT) plans to raise up to S$182.2 million in a private placement. It said on Tuesday that it will launch a placement of 137 million new units at an issue price between S$1.29 and S$1.33 per new unit. This means it would raise gross proceeds of between S$176.7 million and S$182.2 million. The issue price of the new units represents a discount of between 3.7 per...
Healthcare real estate investment trust, First REIT, reported Friday that its fourth quarter and full year distribution was little changed. Its distribution per unit (DPU) for the fourth quarter was 1.92 Singapore cents, just one per cent lower than the 1.94-cent DPU announced over the same period a year ago. For the full year, DPU was unchanged at 7.62 Singapore cents. In terms of its net property...