CapitaLand Limited

Liang Court redevelopment a 'four-way win' for local real estate heavyweights, says DBS

SINGAPORE (Nov 25): As property heavyweights CapitaLand, City Developments (CDL), CDL Hospitality Trusts (CDLHT) and Ascott Residence Trust (Ascott REIT) band together to in a bid to redevelop the Liang Court site into an integrated development, market watchers opine that all four developers are poised to gain attractive returns. 

On Nov 21, it was announced that the site – comprising Liang Court mall, Novotel Singapore Clarke Quay (NCQ) hotel and serviced residence Somerset Liang Court Singapore – would be turned into an integrated development. 

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.


Brokers Digest 907

Manulife US REIT 

Price targets: 

US$1.05 BUY (Maybank Kim Eng Research) 

US$1.00 BUY (RHB Group Research) 

US$1.00 OUTPERFORM (KGI Securities)

Although Manulife US REIT (MUST) posted a 2% drop in its 2QFY2019 DPU to 1.48 US cents, market watchers are quick to highlight that this is by no stretch an indication of trouble for the REIT. 


IMF cuts growth forecast but MAS expects recovery; Kimly buys canteens

SINGAPORE (Oct 28): The International Monetary Fund has slashed its 2019 growth prediction for Singapore to 0.5%, down from its July estimate of 2%. This is IMF’s second downward revision for the city state; in its World Economic Outlook report in April, it had forecast a growth of 2.3%.

The situation is not expected to get much better next year, either. “Growth is projected to remain subdued at 1% in 2020, given Singapore’s dependence on external trade,” Jonathan Ostry, Deputy Director of the IMF’s Asia and Pacific department says at a press conference on Oct 23.


A-HTrust's security holders are short-term beneficiaries of merger with Ascott REIT

SINGAPORE (Oct 14): During a recent joint roadshow by the managers of Ascott Residence Trust (Ascott REIT) and Ascendas Hospitality Trust (A-HTrust), an Ascott REIT unitholder wondered why its unit price had not moved since July 3, when the merger between Ascott REIT and A-HTrust was announced. In contrast, A-HTrust’s unit price is up 11.2%. Since the start of the year, A-HTrust is up 41%, while Ascott REIT has gained 22%.


Local listcos jump on co-living bandwagon

SINGAPORE (Oct 7): In the lobby of the newly launched lyf in Funan is a ball pit to jump into. There is also a GIF booth, where guests can ­create their own moving images to share on their social media platforms. But this is not a children’s den. It is one of the latest co-living spaces that have opened in ­Singapore, targeted at young professionals. Co-living also represents a growth market for a number of public-listed companies.

CapitaLand to more than double AUM in India to $7 bil by 2024

SINGAPORE (Oct 1): Property group CapitaLand plans to grow its assets under management (AUM) in India to $7 billion by 2024 from $3.3 billion at present.

This was announced in Bangalore, India, on Tuesday by Lee Chee Koon, Capitaland's group CEO.

To hit the target, CapitaLand will invest capital to grow development pipeline and work with capital partners to grow fund management business in the next five years.

Hong Kong formally withdraws extradition bill; Singapore's GDP forecast lowered

SINGAPORE (Sept 9): After 13 long weeks of protests in Hong Kong, an end to the political crisis in the Special Administrative Region may be in sight. On Sept 4, the city’s embattled leader Carrie Lam formally announced the withdrawal of the extradition bill, meeting one of the five demands of the protesters.


Diversified portfolio shields ESR-REIT from possible tenant defaults; REITs seen as resilient in downturns

SINGAPORE (Sept 9): When news broke that national water body the Public Utilities Board was assuming control of Hyflux’s desalination plant, Adrian Chui, CEO of ESR--REIT’s manager, received calls from anxious unitholders. “Why are you allowing PUB to take away your assets without paying anything?”

In actual fact, PUB is taking over the plant at 92 Tuas South Avenue 3. What ESR-REIT owns is Hyflux’s nearby membrane production facility at 8 Tuas South Lane.

Ascott launches first lyf co-living property at Funan

SINGAPORE (Sept 5): CapitaLand’s wholly owned lodging business unit, The Ascott Limited, has opened lyf Funan Singapore, its very first property under the co-living brand.

Managed by millennials for the millennials and millennial-minded, lyf Funan is located inside CapitaLand’s Funan integrated development.

The co-living space houses 412 rooms across 279 apartments.

The co-living property can now claim to be the largest in Southeast Asia, beating hmlet's 150-room co-living property at 150 Cantonment Road which opened last week.

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