Category Archives: Funds

Anticipating, accelerating, accentuating

Posted on 22 Aug 2009 | Comments Off on Anticipating, accelerating, accentuating

CapitaCommercial Trust shares its ‘triple-A strategy’ for riding through challenging times

FOR a sector that looked extremely vulnerable during the worst of the credit crisis, most real estate investment trusts (Reits) in Singapore managed to turn in steady results in the second quarter of this year.

CapitaCommercial Trust (CCT) was one that met or exceeded analysts’ expectations. Riding on higher rental income and better operating margins, its Q2 distributable income and distribution per unit (DPU) each rose around 33 per cent from a year ago.

But are the skies clear for Reits? Analysts have flagged other challenges to maintaining distributions in a subdued economy – rents are likely to keep sliding and acquisitions may still be hard to carry out.

CCT adopts a ‘triple-A strategy’ in such times, says Lynette Leong, CEO of trust manager CapitaCommercial Trust Management. ‘We anticipate, Continue reading →

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Singapore Reit Starhill completes $234 million rights offering

Posted on 14 Aug 2009 | Comments Off on Singapore Reit Starhill completes $234 million rights offering

Starhill Global Reit receives applications for 129.3% of the rights units available in the offering.

Investors snapped up a rights offering from Starhill Global Real Estate Investment Trust yesterday, helping the company to raise S$337.3 million ($234 million).

The Singapore-listed company received valid acceptances and excess applications for a total of 1.24 billion rights units, representing 129.3% of the 963 million rights units available in the offering, which Starhill launched in late June. The units were offered on a one-for-one basis and sold at a subscription price of S$0.35 each.

Since the rights issue was launched, units in the Reit have not moved notably: on the first day of the deal, June 22, they were trading at S$0.50. Continue reading →

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