acquisitions

More could be in store for Mapletree Commercial Trust after a strong 2Q, say analysts

SINGAPORE (Oct 29): DBS Vickers Securities and Maybank Kim Eng are maintaining their respective “buy” and “hold” calls on Mapletree Commercial Trust (MCT) with target prices of $1.80 and $1.60, post the latest release of MCT’s results for 2Q19.

Continued overseas expansion to fuel a stronger 2H for MindChamps: RHB

SINGAPORE (Oct 17): RHB Research is maintaining its “buy” call on MindChamps Preschool with an unchanged target price of 94 cents based on a blended valuation methodology comprising a target EV/EBITDA of 18 times, in line with the peer average, and DCF.

Datapulse announces diversification plans with intended acquisition of hotel in Seoul

SINGAPORE (Oct 4): Datapulse Technology is seeking to acquire a hotel located near the Myeongdong district in Seoul, Korea, as part of its plans to expand the company’s core business from optical disc manufacturing to include hotel and hospitality investments.  

In an Oct 3 filing to the SGX, Datapulse announced having signed signed a letter of intent (LoI) for the acquisition with an unnamed private company in Korea on Oct 1.

Thakral Corp acquires $66 mil worth of hotel & office properties in Osaka

SINGAPORE (Oct 1): Thakral Corporation says it has acquired a hotel and two office properties in Osaka, Japan, valued at JPY5.46 billion ($66 million) in total.

The group’s move comes as part of its overall strategy to broaden its asset & earnings base in order to capitalise on Japan’s strong economic fundamentals and tourism boom, according to Thakral in a press release on Monday.

Analysts see myriad opportunities in CapitaLand's US portfolio acquisition

SINGAPORE (Sept 19): CGS-CIMB Securities and DBS Vickers Securities are maintaining their “add” and “buy” calls on CapitaLand with the respective target prices of $3.55 and $3.62.

This follows news of the group’s foray into the US multifamily property segment with its recent billion-dollar acquisition, which both research houses are positive on.

Indonesia billionaire family reshuffles empire on currency rout

SINGAPORE/JAKARTA (Sept 19): Southeast Asia’s billionaire Riady family is reshuffling its health-care holdings as its core property business grapples with the emerging-market rout.

CityDev buys Aldgate House in London for $328 mil, expects immediate accretion

SINGAPORE (Sept 14): Property developer City Developments Limited (CDL) has acquired a prime freehold Grade A commercial building, Aldgate House, in London for £183 million ($328 million).

Aldgate House is strategically located in the heart of Aldgate and is bounded by Aldgate High Street, Middlesex Street and St Botolph Street.

The asset is expected to provide immediately contribution to CDL’s recurring income, and has an occupancy rate of 88%.

Serial System to divest stake in Australian laundry business for $43 mil

SINGAPORE (Sept 12): Serial System, the distributor of electronic components and consumer products, is divesting its entire 27.34% stake in SPL Holdings (Australia) to Anchorage Bridge Street for US$31.2 million ($43 million).

SPL Holdings is an Australia-based commercial laundry business whose clients include hospitality brands such as Hilton, Hyatt and Sofitel. On the other hand, the buyer is a company owned by funds managed by Australian private equity (PE) firm Anchorage Capital Partners.

Plenty of room for Frasers Logistics to pursue more acquisitions, says OCBC

SINGAPORE (Sept 11): OCBC Investment Research is maintaining its “buy” call on Frasers Logistics & Industrial Trust (FLT) with a higher fair value of $1.19 compared to $1.18 previously, after incorporating the trust’s recent capital recycling transactions into its valuation model.

HG Metal acquires majority stake in Myanmar JV, to open steel rebar facility

SINGAPORE (Aug 23): HG Metal Manufacturing’s wholly-owned subsidiary, HG Metal Investments, has acquired a majority 51.04% stake in Myanmar-based joint venture (JV) company, First Fortune International, from Fortune Peak Investments for US$95,700 ($131,147).

The transaction will reduce Fortune Peak’s stake in First Fortune to 28.96%, with 20% of the remaining shares held by YNJ Engineering, a provider of aluminum and glass façade installation services in Myanmar.   

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