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ESR-REIT JV to buy logistics property for $225m

17 Jun 2019 - Singapore Business Review
The site will serve as Poh Tiong Choon Logistics’ corporate headquarters. The trustee of ESR REIT has entered into a joint venture (JV), through a limited liability partnership in Singapore known as PTC Logistics Hub LLP, with Poh Tiong Choon Logistics (PTC) to purchase a property at 48 Pandan Road for ...

SATS eyes over $1b in capex and investments from FY20-22

14 Jun 2019 - Singapore Business Review
This means that SATS may shell out $333m annually on average during the three-year period. SATS is targetting about $1b of proposed capex and investment over the next three years to increase its APAC aviation presence in catering and air cargo market, to become the leading central kitchen supplier in ...

How can CapitaLand Retail China Trust fund its $589.2m mall acquisition?

14 Jun 2019 - Singapore Business Review
A private placement paired with preferential offering could boost its DPU, an analyst said. A private placement, amongst other equity fundraising exercises, could boost the distribution per unit (DPU) of CapitaLand Retail China Trust (CRCT), which is seeking to fund the $589.2m (RMB2.96b) acquisition ...
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Here's why ThaiBev's turnaround may already be in the works

14 Jun 2019 - Singapore Business Review
A rebound in beer consumption and retail sales bodes well for the second largest Thai beer player. Thailand’s domestic beer consumption rose jumped 21% YoY in April, signalling what could be a demand recovery for Thai Beverage which has faced a slump in 2018. Also read: Bottoms up: The worst is over ...

Singtel unit unveils EUR500m fixed rate notes due 2029 at 1%

14 Jun 2019 - Singapore Business Review
Singtel Optus will utilise the funds for general corporate purposes. Singtel subsidiary Singtel Optus priced its EUR500m ($770.82m) 10 year fixed-rate notes at 1% per annum and for maturity on 20 June 2029, an announcement revealed. Under the Optus Finance EUR3b ($4.62b), the issued notes are guaranteed ...

Frasers Centrepoint Trust's preferential offering oversubscribed

13 Jun 2019 - Singapore Business Review
The firm will realise gross proceeds of about $67.7m to fund its acquisitions. Frasers Centrepoint Trust’s (FCT) preferential offering was almost two times oversubscribed, a filing with the Singapore Exchange (SGX) revealed. Valid acceptances and excess applications were received for 196.9% or 56.74 ...
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Daily Markets Briefing: STI down 0.06%

13 Jun 2019 - Singapore Business Review
Singtel led the gains at 0.91%. The Straits Times Index ended 1.84 or 0.06% lower at 3,207.25. The top active stocks were DBS, which edged up 0.08%, Singtel, which rose 0.91%, UOB, which grew 0.33%, OCBC, which slipped 0.09%%, and YZJ Shipbuilding with a 0.69% advance. The FTSE MidCap grew 0.32% whilst ...

$589.2m China mall buys to spur short-term pain for CapitaLand Retail China Trust

11 Jun 2019 - Singapore Business Review
Debt costs could pare its DPU by 8-12%. CapitaLand Retail China Trust’s (CRCT) acquisition of three malls in China from CapitaLand’s subsidiary and associated companies for $589.2m (RMB2.96b) is expected to provide some short-term pain for the firm’s earnings, according to a report by OCBC Investment ...
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SGX daily average value dipped 18% to $1.1b in May

11 Jun 2019 - Singapore Business Review
Total derivatives traded volume however surged 46% YoY to 24.2 million contracts. Securities daily average value (SDAV) in the Singapore Exchange (SGX) fell 18% YoY but picked up at a faster pace at 5% MoM to $1.1b in May, according to an announcement. Meanwhile, market turnover value for structured ...

BreadTalk, Tat Seng fined for illegally discharging into public sewers

11 Jun 2019 - Singapore Business Review
They were part of the 38 companies fined a total of $253,700. Thirty eight companies were fined a total of $253,700 by the Public Utilities Board (PUB) for illegally discharging into public sewers, an announcement revealed. “The offences were discovered during site inspections and also through PUB’s ...
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