Sydney

Link REIT plans to acquire retail properties in Sydney - THE EDGE SINGAPORE

REITs

Link REIT plans to acquire retail properties in Sydney

Link REIT plans to acquire three properties in Sydney for A$538.2 million which are immediately DPU accretive
Ascendas REIT reports dip in portfolio occupancy to 90.6% in 1Q21 business update - THE EDGE SINGAPORE

Results

Ascendas REIT reports dip in portfolio occupancy to 90.6% in 1Q21 business update

The REIT did not release DPU or revenue figures for 1QFY2021.
Ascott achieves fourth year of growth with addition of over 14,200 units in 2020 - THE EDGE SINGAPORE

Property

Ascott achieves fourth year of growth with addition of over 14,200 units in 2020

The new properties will boost Ascott’s annual fee income by over $27 million.
UOB Sydney branch prices A$500 mil notes due Oct 2023 - THE EDGE SINGAPORE

Banking & finance

UOB Sydney branch prices A$500 mil notes due Oct 2023

The notes are expected to be rated AA- by Standard & Poor’s.

Sovereign wealth funds

GIC acquires 25.1% stake in $4 bil Sydney office property trust

SINGAPORE (Aug 19): Sovereign wealth fund GIC announced Monday it is acquiring a 25.1% stake in Lendlease International Towers Sydney Trust (LLITST) from Canada Pension Plan Investment Board and Australia-listed Lendlease Group.

Broker's Calls

Suntec REIT kept at 'neutral' by RHB on operational weaknesses

SINGAPORE (June 20): RHB Research is maintaining Suntec REIT at ‘neutral’ despite an improved balance sheet, given operational weaknesses are expected to persist until 1H20.

M&A

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.
Property markets from Hong Kong to Sydney join global downturn

Property

Property markets from Hong Kong to Sydney join global downturn

(Jan 7): Asia is finally succumbing to the global property slowdown that’s jolted homeowners and investors from Vancouver to London, with markets in Singapore, Hong Kong and Australia showing fresh signs of softening.

Broker's Calls

Continued overseas expansion to fuel a stronger 2H for MindChamps: RHB

SINGAPORE (Oct 17): RHB Research is maintaining its “buy” call on MindChamps Preschool with an unchanged target price of 94 cents based on a blended valuation methodology comprising a target EV/EBITDA of 18 times, in line with the peer average, and DC

M&A

ComfortDelGro expands Australia operations with $136.2 mil worth of acquisitions

SINGAPORE (Aug 8): Land transport operator ComfortDelGro (CDG) is acquiring privately-run family bus and coach operator FCL Holdings, two freehold depot sites and a coastal operator for a total of A$134.45 million ($136.2 million) as part of its expansion
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