Category Archives: Funds

CEO of K-Reit Asia’s management firm to step down on Aug 17

Posted on 12 Aug 2009 | Comments Off on CEO of K-Reit Asia’s management firm to step down on Aug 17

Mainboard-listed K-Reit Asia said on Tuesday the CEO of its management firm is stepping down.

49-year-old Tan See Yiow will be resigning on August 17, and will be replaced by Ng Hsueh Ling.

Prior to this appointment, Ms Ng has held key positions with other real estate companies. Most recently, she was the CEO of Ascendas Korea and Japan from 2007 to 2009.

K-Reit Asia said Mr Tan will remain as an executive director at K-Reit Asia Management to assist with strategic planning and development of the trust.

At the end of the trading day, K-Reit Asia units were up one cent at S$1.06.

Source : Channel NewsAsia – 11 Aug 2009

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MI-Reit Q1 DPU drops 36% to 1.51cents on higher loan costs

Posted on 8 Aug 2009 | Comments Off on MI-Reit Q1 DPU drops 36% to 1.51cents on higher loan costs

MACARTHURCOOK Industrial Reit (MI-Reit) has announced a distribution per unit (DPU) of 1.51 cents for its first quarter ended June 30, down 36 per cent from a year ago.

Higher borrowing cost was one factor for the fall. Borrowing costs were higher because of the increase in interest margins and facility fees when the repayment date of the Reit’s Singapore term loan facility was extended to Dec 31, 2009 during the quarter.

Net property income for Q1 was $9.3 million, 3.2 per cent higher year-on-year, as the portfolio’s high occupancy was maintained.

The Reit said organic rental growth was supported by built-in rental escalations staggered throughout the leases Continue reading →

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