Daily Archives: 28 Oct 2009

Starhill Global Reit Q3 income to be distributed up 7.8%

Posted on 28 Oct 2009 | Comments Off on Starhill Global Reit Q3 income to be distributed up 7.8%

Starhill Global Reit, which owns shopping malls on Orchard Road, said its income to be distributed for the third quarter rose 7.8 per cent to S$18.3 million from a year ago.

Distribution per unit for the three months ended September was 0.95 cents, 6.7 per cent higher compared to the year-ago period, after adjusting for the rights issue.

Net property income for the quarter rose 10.4 per cent to S$26.1 million mainly due to better performance by the reit’s Singapore properties.

The reit’s manager said it’s cautiously optimistic about the outlook ahead, given the encouraging signs of recovery in the global credit market, as well as the turnaround in the Singapore economy and tourist arrivals.

Source : Channel News Asia – 28 Oct 2009

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Posted in Funds

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Far East Organization to add 15 overseas properties under new brand

Posted on 28 Oct 2009 | Comments Off on Far East Organization to add 15 overseas properties under new brand

Property developer Far East Organization is banking on local culture to grow its new hospitality brand.

Under its new concept, Village Hotels & Residences, it aims to provide guests with a taste of the local culture in the surrounding community.

And Far East is hoping to add 15 new overseas properties under the brand in the next five years, in markets such as China, Indonesia, Malaysia and Vietnam.

An experience that draws on the culture of the local community – that is what Far East aims to offer guests at its Village Hotels & Residences.

For example, guests at the Albert Court Village Hotel will be able to learn more about Little India through guided tours or dining options.

It is one of three hotels, along with four residences in Singapore, that have been selected by Far East to spearhead its new hospitality branding.

The other two hotels are Changi Village Hotel, and the Golden Landmark Hotel which will be renamed to Landmark Village Hotel. Continue reading →

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Posted in Developers

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