Australia

Frasers Logistics & Industrial Trust to acquire stakes in 12 properties in Germany, Australia from sponsor for $482 mil

SINGAPORE (July 3): The manager of Frasers Logistics & Industrial Trust (FLT) has announced the proposed acquisition of interests in 12 logistics properties in Germany and Australia from sponsor Frasers Property for a total consideration of A$507.2 million ($481.8 million).

The agreed property purchase price of the nine properties in Germany is approximately €320.3 million ($493.3 million), while the property purchase price of the three properties in Australia is approximately A$125.5 million.

Circles.Life launches world's first multi-country digital telco platform in Taiwan

SINGAPORE (June 24): Homegrown mobile virtual network provider Circles.Life is launching its digital mobile services in Taiwan on the back of a partnership with one of island’s largest telco players.

Circles.Life Taiwan enables customers to sign up on the Internet with a SIM card being delivered the very next day, as well as flexible and no-contract plans which free customers from paying for unused data, unlike the current rigid plans that bind them.

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 plans for the property with the relevant authorities.

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 acquisition is ComfortDelGro’s sixth acquisition in Australia in the last 12 months, and its fifth in NSW.

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.

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 may use them to live-stream violent crimes, such as this month’s terror attack in New Zealand. Singapore said it will introduce a law to halt the spread of “fake news.”

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 listing.

The group itself, however, has yet to make any announcements on the ASX nor via its website as at the time of writing.

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 assumption of 2%.

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 leases at $11.10 psf pm versus $9.80 in 2017.

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 area (GFA) of 25,000 sq m.

Hatten however intends to develop a mixed-use development on the land, which may comprise retail and hospitality units as well.  

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