The Chijmes along Victoria Street is being put up for sale by owner Suntec Reit. It has appointed Colliers International to market the property through an expression-of-interest exercise. However, Suntec Reit is expected to sell the asset only if it gets a good price. Chijmes was last valued for $134 million at the end of last year. It has 79,794 square feet of net lettable area, and generated revenue of...
Suntec REIT
Suntec Real Estate Investment Trust has reported a fourth quarter distribution per unit (DPU) of 2.316 cents, down 19.8 per cent from a year ago. Net property income for the three months ended December held steady at S$47.2 million. For the full year, net property income was marginally higher - up 0.4 per cent at $193 million. Suntec REIT said its gross revenue saw a marginal decline due to lower retail...
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...
Suntec Real Estate Investment Trust (Suntec REIT) is acquiring a one-third stake in Marina Bay Financial Centre for S$1.5 billion. Under the transaction, Suntec REIT will purchase Marina Bay Financial Centre Tower 1 and 2, the Marina Bay Link Mall and 695 car park lots. The REIT has entered into a conditional share purchase agreement for the property with Choicewide Group Limited, Cavell Limited and...
Suntec Real Estate Investment Trust (REIT) on Thursday said it will distribute 2.53 cents per unit in the second quarter. This is down 15 per cent from the DPU of 2.98 cents in the year ago period. Suntec REIT said its distributable income came to S$45.93 million for the quarter. This is a slight dip of about 4 per cent from S$47.77 million a year ago. The trust said its annualised yield stands at 7.7...
Suntec Real Estate Investment Trust (Suntec REIT) said its first quarter distribution per unit (DPU) fell 13.9 per cent to 2.51 cents from 2.92 cents a year ago. Distributable income for the quarter ended March 31 dipped 2.1 per cent to S$45.37 million on-year. Suntec Reit added that its net property income also fell 2.7 per cent to S$47.8 million from S$49.2 million in the same quarter a year...
Mainboard-listed Suntec REIT says its private placement of 128.5 million units was more than five times oversubscribed. The trust had priced the new units at S$1.19 each, a discount of 6.5 percent to Thursday's volume-weighted average price of S$1.2724 per unit. Suntec REIT said the gross proceeds from the private placement amounted to S$152.9 million. Net proceeds after deducting the underwriting,...
Suntec Real Estate Investment Trust (Suntec REIT) says it achieved a distribution income of $47.74 million for the period Jul 1 to Sept 30 FY09, which was 8.8% higher compared to the quarter ended Sept 30 2008 (3Q FY08). The DPU of 2.921 cents for the quarter was 2.3% higher year-on-year. Suntec REIT achieved gross office revenue of $28.7 million for the quarter, which was 7.9% higher than in 3Q FY08,...
Suntec REIT says Sunshine Assets Limited, the special purpose vehicle set up in 2006 to issue notes under the $500 million Medium Term Notes Programme, today issued a new series of three-year fixed rate notes bearing a fixed interest rate of 3.55% per annum, due September 2012. The aggregate issue size of the notes is $25 million, which was oversubscribed. The proceeds from the notes will be on-lent by...
ARA Asset Management has announced a net profit of $22.1 million for the six months ended June 30, 2009 (1H2009), a 22% increase from the $18.1 million achieved in 1H2008. The increase in net profit was achieved on the back of a 13% rise in total revenue to $38.5 million in 1H2009 from $34.1 million in 1H2008. ARA says management fees from REIT and private fund management rose 4% to $32.4 million in...