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MapletreeLog to raise up to $82m

Posted on 11 Nov 2009 | Comments Off on MapletreeLog to raise up to $82m

Mapletree Logistics Trust on Monday launched a private placement of 115 million units to raise gross proceeds of between $79-82 million. The units would be priced between 69-71 cents apiece.

Net proceeds would go towards financing two proposed acquisitions in Singapore with. The estimated aggregate purchase price (including acquisition related costs) comes up to around $78 million.

Resulting debt headroom from the private placement would also be used to finance a proposed acquisition in Japan. The estimated purchase price (including acquisition related costs) is around $68 million.

Source : Business Times – 9 Nov 2009

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Parkway Life Reit stays upbeat as Q3 DPU rises 12%

Posted on 6 Nov 2009 | Comments Off on Parkway Life Reit stays upbeat as Q3 DPU rises 12%

PARKWAY Life Reit yesterday reported distribution per unit (DPU) of 1.91 cents for the third quarter to Sept 30, up 12.1 per cent from 1.71 cents in the equivalent period last year.

Mr Yong: ‘we continue to enjoy strong growth quarter after quarter’

 

Income available for distribution was $11.6 million, up from $10.3 million last year.

Annualised DPU was 7.65 cents for a 6.59 per cent yield, based on Parkway’s closing price on Sept 30, up from 5.9 per cent last year; or 6.32 per cent based on yesterday’s closing price of $1.21 a unit. For the three months ended June, the Reit posted a 13.7 per cent increase in income available for distribution to $11.4 million, for a DPU of 1.89 cents.

For the third quarter, gross revenue rose 23.6 per cent year-on-year to $16.5 million, from $13.3 million. Net property income was $15.4 million, up from $12.5 million.

For the first nine months, distributable income was $34.3 million, up 14.1 per cent, for DPU of 5.69 cents, up from 5 cents last year.

Chief executive officer of the Reit’s manager Yong Yean Chau said: ‘Despite the challenging market conditions, we continue to enjoy strong growth quarter after quarter. Continue reading →

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