Category Archives: Overseas Property

CapitaLand allots $1b to Ascott, China, Viet arms

Posted on 19 Aug 2009 | Comments Off on CapitaLand allots $1b to Ascott, China, Viet arms

Group expects to reduce cash levels from $2.8b to $1-2b over 6-12 months

PROPERTY giant CapitaLand has deployed about $1 billion from its $1.8 billion rights issue earlier this year to grow its China, Vietnam and Ascott businesses. The money will be used to increase the respective capital base of these three wholly owned businesses of the group.

CapitaLand group CFO Olivier Lim said that, over the next 6-12 months, the group expects its corporate treasury cash levels to be reduced from the existing $2.8 billion to $1-2 billion, partly by pre-paying debt that matures in the next two to three years, and partly by deploying capital to investment opportunities that may arise.

The $2.8 billion corporate treasury cash is part of the $4.2 billion cash and cash equivalents as at June 30, 2009, as reported with CapitaLand’s first-half results last month.

Half or $500 million of the additional capital deployment will go to CapitaLand China Holdings, $299 million to CapitaLand (Vietnam) Holdings Continue reading →

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Rental scam targets potential tenants

Posted on 18 Aug 2009 | Comments Off on Rental scam targets potential tenants

Michelle Jonasson-Jones, a Silver Spring, Maryland-based property agent, cautions potential tenants about a rental scheme making the rounds online that has caught the attention of the FBI.

Ms Jonasson-Jones said that she has had her listings for rental properties ’stolen’ and relisted under a different name and a lower price, usually on Craigslist. The impostors send prospective tenants an ‘application’ and ask for their personal and financial information.

They tell prospective renters that the owner is working overseas and is unavailable to show the house.

‘It used to be they were scamming the owner; now they’re scamming the tenants,’ she said.

Wendy Dufford, an intelligence analyst for the FBI in Columbia, South Carolina, wrote an article for the bureau’s website after the South Carolina Continue reading →

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