The Monetary Authority of Singapore (MAS) has released a consultation paper on a proposal to require real estate investment trusts (REITs) to hold annual general meetings (AGMs). The proposal will affect all REITS which are regulated as Collective Investment Schemes in Singapore. Potential changes include requiring REITS to hold AGMs every calendar year, with an interval not exceeding 15 months from the...
Singapore REITS
CapitaCommercial Trust (CCT) is looking to raise S$828.3 million through a 1-for-1 rights issue. According to the real estate investment trust, the proceeds will be used primarily to reduce its borrowings. CCT is looking to ease its debt burden, which comes to some S$2.6 billion. And it plans to do so with a S$828.3 million rights issue. Under the rights issue, it plans to offer unit-holders one unit...
Singapore-listed Parkway Life REIT said it has achieved a distribution per unit (DPU) of 1.89 Singapore cents for the first quarter, up 17 percent from a year ago. This was on the back of a 37 per cent rise in net property income for the three months ended March to S$15.2 million. The trust saw higher revenue from its Singapore hospital properties and positive contributions from its Japan properties. As...
CapitaCommercial Trust (CCT) is turning the interior ground floor open space at its Market Street property into a fully air-conditioned, themed-food court. The property trust announced on Thursday that the 11,000 square feet space has been leased to food court operator, Koufu. CCT made the move after deciding earlier this year not to redevelop the Market Street Car Park into a commercial building. The...
Suntec Real Estate Investment Trust (REIT) has booked a distribution income of S$46.4 million for the first quarter – up from S$37.6 million in the same period a year ago. It works out to a distribution per unit (DPU) of 2.918 Singapore cents, up by 16 per cent from a year earlier. In the first three months ended March, the property trust posted a 15 per cent increase in net property income to S$49...
Mainboard-listed Starhill Global REIT, which owns malls along Orchard Road, has reported a 6.3 per cent increase in its distribution per unit (DPU) for the first quarter of this year, compared to a year ago. The DPU for the three months ended March was 1.87 Singapore cents. Its total income available for distribution also rose 12.2 per cent to S$19.1 million. Of this, S$18 million will be distributed....
Mapletree Logistics Trust saw its distributable income amount rise 36.1 per cent to some S$29 million in the first quarter of 2009 over the previous year. The trust said available distribution per unit (DPU) was 1.47 cents for the period, which is about 0.7 per cent higher compared to the previous quarter. The payout will be made on May 29, 2009. Mapletree Log said the increase is largely due to lower...
First REIT has recorded a 2.5 per cent on-year jump in distributable income to S$5.2 million for the first quarter of 2009. The healthcare real estate investment trust attributed the increase to its resilient trust structure. It added that the distribution per unit (DPU) also rose 1.6 per cent to 1.88 Singapore cents for the three months ended March 31. First REIT said it achieved a distribution yield of...
Mainboard-listed Ascott Residence Trust on Wednesday reported that its distribution per unit (DPU) in the first quarter fell 24 per cent on-year. For the three months ended March, Ascott Reit achieved a DPU of 1.77 cents, lower than the 2.33 cents over the same period last year. Gross profit stood at S$19.9 million, 16 per cent lower than the year-ago profit of S$23.3 million. Ascott Reit said the fall...
K-REIT Asia, a real estate investment trust sponsored by Keppel Land, reported a 37.3 per cent on-year jump in distribution income for the first quarter on positive rental reversions. Distribution income for the three months ended 31 March totalled some S$15.7 million. K-REIT attributed the increase to higher rentals achieved for new and renewed leases. For the first quarter, shareholders can expect...