Tag Archives: Funds

Ying Li eyes forming a Reit by 2013

Posted on 15 Oct 2009 | Comments Off on Ying Li eyes forming a Reit by 2013

Odds are high once its rental income is steady and asset size exceeds $1b

YING Li International Real Estate may spin its assets into a real estate investment trust (Reit) by 2013 once its rental income is steady and asset size exceeds $1 billion.

Mr Fang: He says the group may tie up with other established players, such as Macquarie Pacific Star, to tap their expertise

This could materialise when its current project International Financial Centre (IFC) is completed and revalued on a mark-to-market basis.

‘We wish to go into an asset-light model. We are talking to established international players to eventually securitise our assets – to inject our properties into a Reit,’ Ying Li chief executive Fang Ming told BT yesterday in an interview. Continue reading →

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K-Reit posts 18% rise in Q3 distributable income

Posted on 14 Oct 2009 | Comments Off on K-Reit posts 18% rise in Q3 distributable income

OFFICE trust K-Reit Asia said yesterday that its third-quarter distributable income rose 18 per cent on the back of positive rental reversions.

Distributable income for the three months ended Sept 30 rose to $18 million, from $15.2 million a year ago. Distribution per unit (DPU) accordingly rose to 2.69 cents from 2.34 cents.

The trust, which is a unit of Keppel Land, also reported a 29 per cent rise in net property income to $12.3 million, from Q3 2008’s $9.5 million.

K-Reit’s portfolio – which includes Bugis Junction Towers and a one- third stake in One Raffles Quay – attained 94.9 per cent committed occupancy as at end-September; the trust reported the same occupancy rate at end-June. Continue reading →

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