Japan

Japan lines up to join Germany in all-negative yield curve club

(Aug 23): Japan’s sovereign debt market is in danger of joining Germany with negative bond yields across all maturities.

Yields in the Asian nation are already negative all the way out to debt maturing in 15 years, and buyers from home and abroad have been snapping up longer-tenor Japanese government bonds, adding to the downward pressure.

Sands shifts focus to Tokyo in drive for first Japanese casino

(Aug 23): Las Vegas Sands Corp will focus on the Tokyo and Yokohama areas as potential locations to build a casino resort, as Japan moves forward with plans to open facilities that allow gambling.

Sands said in a statement Thursday that it’s no longer interested in Osaka, long seen as the place where the country’s first casino resort may open. A maximum of three locations will be allowed under a law passed last year.

China no match for Japan in Southeast Asia infrastructure race

(June 24): Japan is still winning the Southeast Asia infrastructure race against China, with pending projects worth almost one and a half times its rival, according to the latest data from Fitch Solutions.

Japanese-backed projects in the region’s six biggest economies -- Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam -- are valued at US$367 billion ($497 billion), the figures show. China’s tally is US$255 billion.

Pristine adventures

Discovered by Yamaha Corp in the 1980s during its search for the world’s finest powder snow, Kiroro is brimming with activities and entertainment for all generations and seasons.

Venture faces 2019 earnings risk due to competition, says UOB Kay Hian

SINGAPORE (Oct 19): UOB Kay Hian is maintaining its “hold” call on Venture Corporation with a target price of $18.20.

This comes post the release of Philip Morris International’s (PMI) 3Q earnings statement last night, which reflected strong operating metrics but a more mixed outlook on device production split, in UOB’s view.

In a Friday report, analyst Foo Zhiwei says current levels may not represent a buying opportunity, as he remains cautious on Venture’s earnings outlook.

10 events that matter to investors in final quarter of 2018

(Oct 9): With the final quarter of 2018 fast approaching, we look at the key events on the agenda for investors. As many northern hemisphere investors get their feet back under their desks after the summer break, we look at the key events and themes likely to be on the agenda for September and the fourth quarter of 2018.

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.

Accordia Golf Trust temporarily shutters Hiroshima, Fukuoka golf courses after Japan floods

SINGAPORE (July 13): The trustee-manager of Accordia Golf Trust says three of its golf courses in Western Japan – Hongo Country Club, Takehara Country Club and Fukuoka Pheasant Country Club – are currently closed because of public road closures against possible landslides and repair works.

Although several of the trust’s other golf courses were reported to have also suffered damage, there was no impact, it adds.  

Ascendas Hospitality Trust acquires Osaka portfolio of hotels for $126.1 mil

SINGAPORE (June 18): Ascendas Hospitality Trust (A-HTRUST) is acquiring a portfolio of three hotels in Osaka, Japan, for 10.29 billion yen ($126.1 million) via Ascendas Hospitality REIT.

The consideration represents a 2.9% discount to the latest valuation of the hotels, which comprise Hotel WBF Kitasemba West, Hotel WBF Kitasemba East and Hotel WBF Honmachi, of 10.6 billion yen.

The first two hotels’ acquisitions are expected to be completed by Sept 2018, while the acquisition of Hotel WBF Honmachi is expected to be completed by Jan 2019.

Robust FY18 developments keep analysts upbeat on Mapletree Greater China Commercial Trust

SINGAPORE (Apr 27): OCBC and CIMB are reiterating their “buy” and “add” recommendations on Mapletree Greater China Commercial Trust (MGCCT) with a fair value and target price of $1.42 and $1.30, respectively.

This comes after MGCCT’s manager on Wednesday declared an available DPU for FY18 for 7.481 cents, up 1.9% from a year ago after factoring a 4Q18 DPU of 1.904 cents, which is down 2.8% from the previous year due to a reversal in VAT payable.

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