Ascendas-Singbridge

Ascendas REIT goes shopping; new properties provide DPU and NAV accretion, IFA recommends a 'yes' vote

SINGAPORE (Nov 25): On Nov 1, Ascendas Real Estate Investment Trust (REIT) announced the proposed acquisition of 28 properties in the US and two business parks in Singapore for $1.66 billion from immediate parent Ascendas-Singbridge, now part of CapitaLand. Including expenses, the acquisition cost is likely to be $1.706 billion. This is being funded via a 16-for-100 rights issue at $2.63 a unit to raise $1.31 billion.

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SGX-listed companies should give investors clearer picture in their disclosure documents

SINGAPORE (June 24): As an investor, I tend to look at corporate deals from the perspective of what it immediately means for a company’s shares. So, when CapitaLand announced its acquisition of Ascendas-Singbridge from Temasek Holdings in January, the aspect of the transaction that jumped out at me wasn’t that CapitaLand was expanding its footprint into new geographical markets and gaining exposure to properties that would benefit from “new economy trends” like e-commerce.

SGX-listed companies should give investors clearer picture in their disclosure documents

SINGAPORE (June 24): As an investor, I tend to look at corporate deals from the perspective of what it immediately means for a company’s shares. So, when CapitaLand announced its acquisition of Ascendas-Singbridge from Temasek Holdings in January, the aspect of the transaction that jumped out at me wasn’t that CapitaLand was expanding its footprint into new geographical markets and gaining exposure to properties that would benefit from “new economy trends” like e-commerce.

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Ascendas-Singbridge establishes co-innovation lab with IMDA & Enterprise Singapore

SINGAPORE (May 27): Singapore’s smart nation ambitions have been further bolstered by a new partnership between Ascendas-Singbridge, Infocomm Development Authority of Singapore (IMDA) and Enterprise Singapore (ESG) to form the Smart Urban Co-Innovation Lab.

All three parties are looking to have a total of 30 co-innovation projects come out from the lab, which is expected to be launched at the end of the year as the first developer-led lab in Southeast Asia.

This announcement follows last year’s call for innovation led by IMDA, Ascendas and JTC.

How CapitaLand's latest acquisition could implicate our nation's coffers

SINGAPORE (Jan 18): CapitaLand’s acquisition of two subsidiaries of Ascendas-Singbridge (ASB) is a pretty sweet deal for Temasek.

The Singaporean state investment arm is enlarging its stake in CapitaLand – specifically from 40.8% to about 51% – at a time when shares in the integrated property developer are trading at depressed levels.

Construction of China-Singapore International Smart Industrial Park starts

SINGAPORE (Dec 6): Thursday saw the groundbreaking of the China-Singapore International Smart Industrial Park in China-Singapore Guangzhou Knowledge City (CSGKC).

Expected to be completed in 2020, the industrial park will focus on the development of a new generation of industry clusters, led by the Internet of Things, big data and cloud technology.

The development is located at the core of the southern startup area of CSGKC and will have a total built-up area of 177,800 sqm with estimated total investments of over RMB 1.4 billion ($26.7 million).

Construction starts for Ascendas-Singbridge JV project, Office Tower 1 at OneHub Saigon

SINGAPORE (Jan 16): Ascendas-Singbridge, together with its joint venture (JV) partner Saigon Bund Capital Partners, have started construction works for Office Tower 1 at One Hub Saigon in Vietnam.

This is the upcoming 12ha development in Saigon Hi-Tech Park, Ho Chi Minh City’s first fully integrated park.

Tower 1 has a gross floor area (GFA) of 12,000 sqm over six floors, and is expected to start operations from 1Q19.

Ascendas-Singbridge acquires Gangnam office building through new private REIT

SINGAPORE (Nov 21): Ascendas-Singbridge Group, the urban development & business space solutions provider, says subsidiary Ascendas Asset Management launched its fifth office fund in South Korea on Sept 28.

Named Ascendas Korea Office Qualified Real Estate Investment Trust No. 5 (AKOPREIT5), the REIT is a 10-year closed private fund with an equity of $39.6 million.

It currently holds ICON Yeoksam, a new mid-sized office building located in the Gangnam Business District (GBD) of Seoul.

Singapore Manufacturing Innovation Centre launched in Guangzhou

SINGAPORE (Aug 21): International Enterprise (IE) and Ascendas-Singbridge today launched the Singapore Manufacturing Innovation Centre (SMIC) in Guangzhou, a one-stop shop to facilitate partnerships between the Singapore Industry 4.0 technology solution providers and Chinese enterprises looking to adopt such solutions.

The Guangdong government has pledged about $190 billion to help drive its next phase of growth by upgrading its manufacturing sector and the adopting robotics to cope with the rising labour costs and shortage of skilled labour.

Ascendas-Singbridge to acquire Sydney Grade ‘A’ commercial building for A$252 mil

SINGAPORE (Aug 18): Ascendas-Singbridge is acquiring 66 Goulburn Street, a Grade ‘A’ commercial building in Sydney’s central business district, for A$252 million ($270 million) from Australia-listed GDI Property Group.  

66 Goulburn Street is located at the north-west corner of Goulburn and Castlereagh Streets, and currently houses government entities as well as financial services and legal firms.

It has a net lettable area (NLA) of approximately 22,890 sq m over 24 office levels, a ground floor retail space, and 53 basement parking spaces.

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