K-Reit sets up S$1 bln MTN programme
K-Reit Asia said on Monday that it has established a S$1 billion multicurrency medium-term note (MTN) programme as an additional source of funding. The net proceeds could be used for acquisitions and investments. Citicorp Investment Bank (Singapore) Limited was appointed to act as the arranger and dealer of the MTN programme. Source : Business Times … Read more
Evergro Properties posts 178% rise in full-year net profit
Singapore mainboard-listed Evergro Properties has posted a 178 per cent increase in full-year earnings. Net profit for the year ended in December came in at S$545,000. Revenue for the period rose 9.8 per cent to S$43.6 million. According to the property firm, sales last year were primarily driven by its projects in China, namely Changzhou … Read more
Evergro’s net profit surges 178%
Evergro Properties net profit for the full year ended Dec 31 surged 178 per cent to $545,000, thanks largely to higher interest income and a turnaround in its associate companies. Its revenue for the year grew 9.8 per cent to $43.63 million and narrowed its operating loss to $586,000 from $3.65 million a year ago. … Read more
K-REIT distribution per unit up 1% for 2008 to 8.91 cents
K-REIT Asia’s distribution per unit (DPU) climbed one per cent for the 12 months ended December 2008, hitting 8.91 Singapore cents. Total revenue for the period was up 84.2 per cent to S$23.4 million. The strong results were attributed to increasing rental rates. But real estate trust said in a filing to the Singapore Exchange … Read more
K-Reit to distribute 8.91 cts per unit for FY08
K-Reit on Monday reported income distributable to unitholders of $17.4 million for the quarter to Dec 31, bringing full year distribution to $58.2 million, or 8.91 cents per unit. This implies a full-year yield of 12.7 per cent, one percentage point above 2007, and 18.3 per cent above forecast DPU of 7.3 cents, or 10.8 … Read more
Be realistic in asking price
HOUSING Board flat owners who face difficulty in selling their units to buyers from the ethnic groups are advised to be realistic in their asking price. National Development Minister said given a large number of resale flats available in the market, and with about 30,000 transactions annually, they should be able to find buyers. While … Read more
Capitala in financing agreement
CAPITALAND’S Abu Dhabi unit Capitala has entered into an agreement to provide future buyers of its maiden project in the city with up to 85 per cent financing. Under the finance agreement with Abu Dhabi Finance, buyers of homes in Capitala’s US$5-6 billion Arzanah development will qualify for loans of up to 85 per cent … Read more
Jurong Rock Cavern tender likely to be awarded in Feb
CONSTRUCTION of the $700 million first phase of an underground oil storage facility on Jurong Island finally looks set to kick off after next month. This is when JTC Corporation expects to decide on the main building contractor as well as the operator for Jurong Rock Cavern (JRC), in a move that will help pump-prime … Read more
