3 reasons why CapitaMall Trust's $245m cash call is a positive

30 Nov 2012 - Singapore Business Review
Check out what OCBC has to say. According to OCBC, successful private placement CapitaMall Trust (CMT) had received the approval in-principle for the offering of new units in CMT pursuant to the private placement. Here's more from OCBC: The retail landlord had initially proposed to carry out a placement ...
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CapitaMall Trust could use $250m to upgrade Funan and Tampines Mall

26 Nov 2012 - Singapore Business Review
AEIs for both malls are likely, says Maybank. Here's more from Maybank Kim Eng: Placement should be viewed favourably. CapitaMall Trust (CMT) recently placed out 125m new units at SGD2.00/unit to raise SGD250m in fresh funds. FY13 DPU dilution is minimal at 3.6%, but we believe the placement will provide ...
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Find out where CapitaMall Trust Management squeezed its S$250m

22 Nov 2012 - Singapore Business Review
It's a hefty sum. According to a release, CapitaMall Trust Management Limited announced that 125,000,000 new units in CMT (New Units) have been successfully placed through a private placement (Private Placement) at an issue price of S$2.00 per New Unit, raising gross proceeds of S$250 million. The Private Placement ...
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CapitaMall Trust' baseless decision to raise equity disappoints: CIMB

22 Nov 2012 - Singapore Business Review
Share price could be hit after the placement, warns CIMB. "Despite a fairly good placement price (at 1.3x P/BV) with only 4% dilution, we are disappointed that CMT has chosen to raise equity in the absence of major funding needs for acquisitions and AEI. Post-dilution yields are not compelling and we ...
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This is why CapitaMall Trust can shrug off Carrefour's exit

4 Sep 2012 - Singapore Business Review
Carrefour pays a lower-than-average SGD6.50 psf pm mall rent. According to Maybank Kim Eng, Carrefour recently announced that it will be ceasing its operations in Singapore by the end of the year. It currently operates out of two locations, one at Suntec City Mall, and the other at CapitaMall Trust’s ...
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CapitaMall Trust hurt by 3% less shoppers

19 Jul 2012 - Singapore Business Review
Blame it on competitive pressures at Lot 1 and Funan Centre. According to OCBC Investment Research, the portfolio kept up a healthy occupancy rate of 98.6% on a combined basis, as of end 2Q12, with most of the slack coming from the Atrium@Orchard (70.7% occupancy) now undergoing enhancement works. Here's ...
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CapitaMall Trust may sell Sembawang Shopping Centre: Nomura

10 Jul 2012 - Singapore Business Review
Sembawang was a drag on occupancy in 4QFY11. According to Nomura: The sale of Hougang Plaza at 3.5x its end-FY11 valuation (and a 37% premium to our valuation) in May underscored investor demand for commercial properties (although we believe the premium paid for Hougang Plaza also took into account redevelopment ...
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CapitaMall Trust in an aggressive refinancing scheme

22 Jun 2012 - Singapore Business Review
Proceeds from a fixed note issuance will be used to partially refinance the S$783m secured term loan maturing in Oct 2012. CapitaMall Trust would issue HK$1.15b 3.76% Fixed Rate Notes due 2022. The proceeds would be swapped into SG$190.1m at a fixed 3.45% rate and used to partially refinance the S$783m ...
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Why CapitaMall Trust is catering to necessity shopping

15 Jun 2012 - Singapore Business Review
73.1% of its malls' gross revenue came from this market segment in what is clearly a defensive strategy versus the downturn. Alongside this focus on necessity shopping, CapitaMall Trust also seems to have a Midas touch when it comes to revamping flailing property. Maybank Kim Eng points to how it has ...
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