Starhill Global to pass on tax rebates to tenants
STARHILL Global Reit, which owns Wisma Atria and Ngee Ann City in Singapore, is among the latest in the list of landlords to pass on property tax rebates from the Budget to its tenants. The news came yesterday as the trust released improved results for the fourth quarter ended Dec 31, 2008. ‘We are in … Read more
Starhill Global REIT reports 10.1% on-year rise in 4Q 2008 DPU
Starhill Global Real Estate Investment Trust will pay 1.85 Singapore cents per unit for the fourth quarter of 2008. This is 10.1 per cent higher than the same period a year ago. For the three months to December last year, Starhill Global REIT had distributable income of S$18.1 million. The Trust says its net property … Read more
CDL Hospitality to pay 1.8 cents per stapled security for Q4 2008
CDL Hospitality Trusts will pay unitholders 1.8 cents per stapled security for the fourth quarter ending December 31, 2008. This is about 34 per cent lower than the same period in 2007. But the full-year distribution per unit is up by 18 per cent to 10.62 cents in 2008, compared with a year ago. The … Read more
Reits forge ahead
ALL but one of the real estate investment trusts (reits) listed in Singapore had reported their quarterly earnings by yesterday – and most met analysts’ expectations. And looking forward, reits are set to deliver stable earnings in 2009, analysts say – inasmuch as anyone can predict anything with any certainty at the moment. Most reits’ … Read more
Prudent CDLHT retaining $4m
CDL Hospitality Trusts (CDLHT) said yesterday that it plans to retain about $4 million of its second-half 2008 distributable income, citing ‘financial prudence’, as its revenue per available room (RevPAR) dipped in Q4. The trust will distribute 90 per cent of its taxable income – as it is allowed to under its listing prospectus – … Read more
Moody’s cuts Ascendas Reit rating to Baa1
MOODY’S Investors Service has downgraded Ascendas Real Estate Investment Trust’s corporate family rating from A3 to Baa1 as the industrial property trust has not fully addressed refinancing issues and the significant operating challenges facing A-Reit in a recession. The outlook for the rating remains negative, reflecting A-Reit’s still-weak liquidity profile, the challenging state of the … Read more
Rules of conservation
More than 6,500 buildings have been marked for conservation since the URA started its urban conservation programme in the 1980s. Conserved buildings fall under four main district areas. As well as general rules, each area and building type also has additional specific restoration guidelines. Historical districts These date back to Singapore’s founding in 1819 and … Read more
Estate agents should be licensed
I refer to the letter, ‘Property Agents Mislead With Ads’ by Dr and Mrs Rupert See (Life! Jan 17). The Institute of Estate Agents (IEA) is very much concerned with the product knowledge, skills, ethics and professionalism of estate agents. For a better regulated industry, IEA has been advocating mandatory regulations such as pre-requisite qualifications … Read more
Local firm wins final Marina expressway contract
HOME-GROWN Hock Lian Seng Infrastructure has become the first and only local builder to clinch a contract for the Marina Coastal Expressway (MCE), Singapore’s most expensive road. Its $305 million bid pushes the cost of the 5km underground and undersea MCE past $4 billion, far outstripping that of the second costliest road here – the … Read more
