Australia

Frasers Logistics Trust partially divesting Australian asset for A$15 mil; seeks buyer for remaining components
SINGAPORE (May 16): The manager of Frasers Logistics & Industrial Trust (FLT) says it is divesting the warehouse and hardstand components of 610 Heatherton Road in Victoria, Australia, to Mack Bros Enterprises for A$15 million ($14.2 million). The deal represents a 11.1% premium to the property as at 15 April this year, and is subject to FLT’s successful registration of its subdivision ...
ComfortDelGro deepens footprint in Australia with A$28.3 mil bus acquisition
SINGAPORE (Apr 23): ComfortDelGro Corporation announced Tuesday it is acquiring Australian bus service operator B&E Blanch for A$28.3 million ($27.5 million). B&E Blanch, which has a fleet of 48 buses and coaches, runs scheduled route and school bus services in New South Wales (NSW). The company operates as Blanch’s Bus Company and Brunswick Valley Coaches. The latest ...
MindChamps acquires 8 more Sydney preschool centres for $39.3 mil
SINGAPORE (Apr 8): MindChamps Preschool Limited is acquiring eight more early learning centres in Sydney, Australia, for a total of A$40.84 million ($39.3 million) from Malek Family Pte Ltd and Malek Group Investments Pty Ltd. The centres are located across six suburbs of the city, namely: Mascot, Parramatta, Albion Park, West Hoxton, Kemps Creek and Shellharbour. See: MindChamps 2Q ...
Australia, Singapore to crack down on online media with new laws
SYDNEY/SINGAPORE (April 1): Governments in the Asia Pacific region are accelerating efforts to fight malicious use of online media, unveiling laws that make it easier to target websites which enable distribution of criminal or fraudulent content. Australia said it will legislate “tough” new laws to prevent social-media platforms from being “weaponized” by terrorists and extremists who ...
Lendlease reportedly gunning for US$500 mil with intended retail REIT listing on SGX
SINGAPORE (Mar 19): Australia-listed developer Lendlease Group is planning to list a real estate investment trust (REIT) of its retail assets on the Singapore Exchange, according to sources of Thomson Reuters’ IFR Asia. Citing people with knowledge of the transaction, the online article published today said the group is planning to raise up to US$500 million, or $675.3 million, from the ...
OCBC raises confidence in Mapletree Logistics Trust on strong YTD performance, bright prospects
SINGAPORE (Mar 7): OCBC Investment Research is maintaining “buy” on Mapletree Logistics Trust (MLT) while raising its fair value estimate to $1.50 from $1.40 to assume lower cost of equity (COE). This comes as the research house rolls forward its valuations while ascribing a COE of 7.5% in light of a more conducive interest rate environment, offset in part by a lower terminal growth rate ...
Keppel REIT to benefit from lease renewals, Australia portfolio going forward: UOB
SINGAPORE (Mar 7): UOB Kay Hian is maintaining its “buy” call on Keppel REIT with a target price of $1.35 on expectations of the REIT to benefit from the full-year impact of leases, which were renewed in 2018, this year. Based on the latest set of FY18 results, the research house likes the REIT for its high tenant retention of 83% and improved average signing rent for Singapore offices ...
Hatten Land announces Australia expansion plans with Melbourne land acquisition
SINGAPORE (Mar 6): Hatten Land intends to foray into the Australian real estate market by acquiring a land parcel in Southbank, Melbourne, from Australia’s Sundale Developments for a consideration of not more than A$15.8 million ($15.25 million). The land has a planning permit to develop a multi-storey building comprising dwellings, retail premises and offices with an estimated gross floor ...
Co-living startup Hmlet forays into Australian market with Sydney expansion
SINGAPORE (Feb 26): Hmlet, a co-living rental startup based in Singapore, has announced its expansion to Australia with the March 2019 launch of two co-living properties in the inner city suburbs of Newtown and Marrickville in Sydney. This comes after the company’s recent conclusion of its US$6.5 million ($8.8 million) Series A funding round, led by Sequoia India, in Nov 2018. The first ...
A dividend bonanza is set to hit investors in Australia
SYDNEY (Feb 4): Australian investors are set to receive a boost in dividend payouts this month as companies rush to avoid a looming overhaul of tax rules if there’s a change of government. The main opposition Labor party, which is favorite to win elections expected in May, is pledging to tighten so-called franking rules, under which shareholders reduce their overall tax liability. Several ...