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Mapletree plans Singapore Reit

Posted on 13 Sep 2009 | Comments Off

MAPLETREE Investments, the property unit of Singapore’s Temasek Holdings, is poised to list a real estate investment trust (Reit) in Singapore that could hold up to S$4 billion in assets, a top executive said.

CEO Hiew Yoon Khong said yesterday the listing of the Reit would take place when stock-market conditions improved.

‘The management team is ready, and the filing process is really a two-month job,’ Mr Hiew told Reuters in an interview. ‘We were actually preparing for the IPO 16 to 18 months ago but the market turned.’

He said Mapletree planned to launch a Vietnam property fund and an Asian industrial property fund in the next 12 months and hopes to raise between US$500 million and US$1 billion for each.

Mr Hiew, who is also senior managing director (special projects) at Temasek, said Mapletree’s strategy going forward is to become ‘a real estate capital management type of business’, managing listed and unlisted funds for outside investors. He said over the next three to five years, Mapletree hoped to grow its property assets to at least S$20 billion.

Mapletree currently owns or manages nearly S$12 billion in real estate assets in several Asian countries, including China, Vietnam and Malaysia. Continue reading →

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Posted in Developers, Funds

Tagged Developers, Funds, Mapletree Investments, Singapore's Temasek Holdings

Forum upbeat on Asian growth

Posted on 12 Sep 2009 | Comments Off

WHAT a difference a year makes. Last year, the mood at the annual CapitaLand International Forum on the property sector was bleak as speakers surveyed a gloomy global economy. Yesterday, a year on, speakers at the same event held at the Raffles Hotel were pointing
cautiously to a revival of growth and brighter prospects in areas such as real
estate investment trusts (Reits) and in Asia, particularly China.

Ms Gail Fosler, president of United States-based business research organisation The Conference Board, who also spoke at last year’s event, said future global economic growth rates will be much lower than in recent times – but not unusually low.

The projection is 3.2 per cent for 2006 to 2016, compared with more than 5 per cent on average for 2004 to 2007 and some 4 per cent on average from 1996 to 2006. Virtually all global growth will be in emerging markets, she said. The notion of US consumption denting Asian growth is miscast, she said. ‘China is much more a factor in Asian growth than the US.’

Indeed, China, as an economic locomotive, is pulling up Asia and increasingly the rest of the world, said Professor Tan Kong Yam of Nanyang
Technological University’s division of economics. Continue reading →