OUE Commercial REIT (OUE C-REIT)

Size matters: UOB Kay Hian stays buoyant on Singapore REITs sector amid flurry of M&As

SINGAPORE (Dec 9): Singapore’s real estate investment trusts (S-REITs) continue to excite market watchers, amid a flurry of mergers and acquisitions this year.

In the largest deal, CapitaLand in January announced it is forking out $6 billion to acquire Temasek Holdings' subsidiary Ascendas-Singbridge (ASB), in a move which saw the creation of the largest diversified property group in Asia with combined total assets under management (AUM) of more than $123 billion.

Merger ticks all the right boxes for OUE Commercial REIT, but analysts remain cautious

SINGAPORE (Nov 19): OUE Commercial Trust (OUECT) seems poised to thrive on its recent merger with OUE Hospitality Trust (OUEHT), which appears to have ticked all the boxes for the REIT. 

OUECT’s latest set of financial results for 3Q19 ended September saw it register increases across several key financial metrics. 

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.

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OUE C-REIT and OUE-HT unitholders recommended to vote in favour of merger

SINGAPORE (July 10): The Independent financial advisers (IFAs) of OUE Commercial REIT (OUE C-REIT) and OUE Hospitality Trust (OUE-HT) have advised the directors of both trusts to recommend unitholders vote in favour of the merger at the upcoming extraordinary general meeting (EGM).

Under the proposed merger deal, OUE C-REIT will acquire all stapled securities of OUE-HT via a scheme of arrangement.

For every OUE-HT stapled security held, OUE C-REIT will pay 4.075 cents in cash plus 1.3583 new OUE C-REIT units.

OUE C-REIT's 1Q DPU rises 47.5% to 0.9 cent post OUE Downtown Office acquisition

SINGAPORE (May 9): The manager of OUE Commercial REIT (OUE C-REIT) has declared a 1Q19 distribution per unit (DPU) of 0.9 cent, rising 47.5% from its 1Q18 restated DPU of 0.61 cent after booking a full quarter’s contribution from OUE Downtown Office, which was acquired in Nov 2018.

The latest quarter’s DPU translates into a distribution yield of 6.9% based on the REIT’s closing price of 52 cents as at 29 March, the last trading day of 1Q.

SGX explains why Singapore is Asia's largest global REIT platform

(May 6): On March 27, during Manulife US Real Estate Investment Trust’s Investor Day event, Ronald Tan, director of Equity Capital Market at the Singapore Exchange, asked the audience a few questions. It was to gauge the public’s reception to various asset classes. Who would want another office REIT, Tan asked. Almost the entire audience of 400 raised their hands. MUST is an office REIT and the audience comprised MUST unitholders.

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OUE C-REIT and OUE H-Trust in merger to create diversified S-REIT with $6.8b in assets

SINGAPORE (Apr 8): OUE Commercial REIT (OUE C-REIT) and OUE Hospitality Trust (OUE H-Trust) is proposing a merger to create one of the largest diversified S-REITs with total assets of up to $6.8 billion.

The proposed merger will be effected by way of a trust scheme of arrangement with OUE C-REIT acquiring all the issued and paid-up securities in OUE H-Trust in exchange for a combination of cash and new units in OUE C-REIT.

OUE C-REIT posts 21% increase in 4Q DPU to 0.75 cents

SINGAPORE (Jan 30): The manager of OUE Commercial REIT (OUE C-REIT) posted a 21.0% increase in 4Q18 DPU to 0.75 cents, compared to 0.62 cents in 4Q17.

Amount distributable to unitholders was 21.6% higher y-o-y at $36.6 million.

However, FY18 DPU dropped 3.9% to 3.48 cents from 3.62 cents in FY17, despite a 1.9% y-o-y increase in amount distributable to unitholders to $71.3 million, due to 1.289 million new units issued on Oct 30, 2018 at 45.6 cents per unit pursuant to the rights issue.

OUE C-REIT rights issue for OUE Downtown offices acquisition ‘unabashedly’ dilutive

SINGAPORE (Sept 11): OUE Commercial REIT (OUE C-REIT) shocked the market on Tuesday morning by announcing an unabashedly dilutive rights issue, one not seen among the S-REITs since Sabana Shariah Compliant Industrial REIT’s announcement in Dec 2016.

The rights issue comes as part of OUE C-REIT's plans to fund its acquisition of the office portion of OUE Downtown from its sponsor, OUE Limited, for $908 million.

OUE to dispose office components of OUE Downtown to OUE C-REIT for $908 mil

SINGAPORE (Sept 11): OUE property group is planning to dispose the office components of OUE Downtown to OUE Commercial Real Estate Investment Trust (OUE C-REIT) for $908 million on a willing-buyer and willing-seller basis.

OUE, the sponsor of says OUE C-REIT, says the acquisition will unlock capital for higher growth reinvestment opportunities, provide a capital efficient platform for the company to pursue its corporate strategy and help it derive stable income.

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