DAILY NEWS

Daily News – 23 Jan 2020

Singapore Real Estate

Sino Group scion buys District 10 GCB for S$37m
Two transactions each of over S$30 million last month, including one by the scion of one of Singapore’s richest families, have provided a fillip to the tally of deals in the Good Class Bungalow (GCB) market for 2019. Both properties are freehold and in District 10. The first, along Cluny Hill, is changing hands at S$30.8 million or about S$2,025 per square foot (psf) on land area of 15,208 sq ft. The other, along East Sussex…
https://www.businesstimes.com.sg/real-estate/sino-group-scion-buys-district-10-gcb-for-s37m

Two conservation shophouses up for sale
Two conservation shophouses are up for sale, both with hefty price tags. A 999-year leasehold unit in Amoy Street has a guide price of at least $9 million, while a freehold property in Bukit Pasoh is in the $15 million vicinity.
https://www.straitstimes.com/business/property/two-conservation-shophouses-up-for-sale

Singapore Economy

Aussie-Sing exchange rate hits 11-year low on fears of central bank rate cut
Increased market expectations that the Australian central bank will cut rates in the face of fallout from Australia’s raging bush fires have pushed the Aussie unit down against its Singapore counterpart, with the cross-rate on Wednesday hitting its lowest since 2008. Pundits also noted that the potential spread of the Wuhan virus outbreak and its impact on Asian economic activity has further undermined the very…
https://www.businesstimes.com.sg/companies-markets/aussie-sing-exchange-rate-hits-11-year-low-on-fears-of-central-bank-rate-cut

Companies’ Brief

MCT’s Q3 DPU rises 5.6% on higher revenue across most properties
Mapletree Commercial Trust (MCT) on Wednesday posted a third-quarter distribution per unit (DPU) of 2.46 Singapore cents, 5.6 per cent higher than a year ago due to higher gross revenue and net property income. Distributable income climbed 18 per cent to S$79 million for the three months ended Dec 31.
https://www.businesstimes.com.sg/companies-markets/mcts-q3-dpu-rises-56-on-higher-revenue-across-most-properties

Keppel Reit raises Q4 DPU by 2.9% on higher property income
Keppel Reit’s distribution per unit (DPU) was higher in the fourth quarter, while it saw gains in net property income (NPI) due in part to contributions from T Tower. For the fourth quarter ended Dec 31, DPU rose 2.9 per cent to 1.4 Singapore cents, versus 1.36 cents a year earlier. This brings the total DPU for the full year to 5.58 cents, or up 0.4 per cent from the previous financial year.
https://www.businesstimes.com.sg/companies-markets/keppel-reit-raises-q4-dpu-by-29-on-higher-property-income

Frasers Centrepoint Trust’s Q1 DPU inches up 1.3%
Frasers Centrepoint Trust (FCT) on Wednesday posted a first-quarter distribution per unit (DPU) of 3.06 Singapore cents, up 1.3 per cent from 3.02 Singapore cents a year ago. For the three-month period ended Dec 31, distributable income increased 26.5 per cent to S$35 million.
https://www.businesstimes.com.sg/companies-markets/frasers-centrepoint-trusts-q1-dpu-inches-up-13

Soilbuild Reit posts 36.3% fall in Q4 DPU to 0.925 S cent
Soilbuild Business Space Reit on Wednesday posted a fourth-quarter distribution per unit (DPU) of 0.925 Singapore cent, down 36.3 per cent from 1.451 cents a year ago. Distributable income fell 24.1 per cent to S$11.7 million for the three-month period ended Dec 31, 2019.
https://www.businesstimes.com.sg/companies-markets/soilbuild-reit-posts-363-fall-in-q4-dpu-to-0925-s-cent

ESR-Reit DPU for Q4 slips 0.5% to S$0.01
ESR-Reit’s distribution per unit (DPU) slipped 0.5 per cent to one Singapore cent for the fourth quarter ended Dec 31, 2019, from 1.005 cents a year ago. The real estate investment trust (Reit), however, recorded higher gross revenue and net property income (NPI) attributable mainly to full quarter contributions from Viva Trust’s nine properties and 15 Greenwich Drive, which were acquired in October…
https://www.businesstimes.com.sg/companies-markets/esr-reit-dpu-for-q4-slips-05-to-s001

Cache Logistics Trust Q4 DPU falls 8.4% to 1.376 S cents
Cache Logistics Trust’s distribution per unit (DPU) fell by 8.4 per cent to 1.376 Singapore cents for its fourth quarter ended Dec 31, from 1.502 cents a year ago, the real estate investment trust’s manager said on Thursday morning. Gross revenue was down 12.2 per cent to S$27.2 million for the quarter, from S$31 million a year ago.
https://www.businesstimes.com.sg/companies-markets/cache-logistics-trust-q4-dpu-falls-84-to-1376-s-cents

SRX, AIG offer insurance in lieu of tenancy cash deposits
Singapore property portal SRX has teamed up with general insurer AIG Asia Pacific Insurance (AIG Singapore) to let tenants replace their security deposits with an insurance policy instead. Landlords listing on the SRX website can now give tenants the option to buy an AIG insurance policy that replaces a tenant’s security deposit, and covers landlords for loss and damage of their property that is not limited to the…
https://www.businesstimes.com.sg/real-estate/srx-aig-offer-insurance-in-lieu-of-tenancy-cash-deposits

Views, Reviews, Forum & Others

CCT-CMT deal: Jury is out on whether sum of parts is better
The chiefs of CapitaLand Mall Trust (CMT) and CapitaLand Commercial Trust (CCT) have called the proposed union a “merger of equals”, touting benefits of the combined entity such as lower cost of capital, better portfolio resilience with asset class diversification, cost synergies, and better growth opportunities with a larger pool of assets in the acquisition pipeline.
https://www.businesstimes.com.sg/opinion/cct-cmt-deal-jury-is-out-on-whether-sum-of-parts-is-better