DAILY NEWS

Daily News – 30 Oct 2019

Singapore Real Estate

JTC launches Tuas West Avenue site for tender
JTC on Tuesday said it has launched one site at Tuas West Avenue for tender under the second half of the 2019 Industrial Government Land Sales (IGLS) programme. The launch is part of the government’s efforts to offer more choices for industrial development, JTC said in a press statement.
https://www.businesstimes.com.sg/real-estate/jtc-launches-tuas-west-avenue-site-for-tender

Companies’ Brief

CDL Hospitality Trusts Q3 DPS falls 4.1% on lower income from overseas hotels
CDL Hospitality Trusts (CDLHT) on Wednesday posted a 4.1 per cent fall in distribution per stapled security (DPS) to 2.09 Singapore cents for the third quarter ended Sept 30, from 2.18 Singapore cents a year ago. This was due to a decrease in net property income (NPI) and higher interest expense for the quarter.
https://www.businesstimes.com.sg/companies-markets/cdl-hospitality-trusts-q3-dps-falls-41-on-lower-income-from-overseas-hotels

Far East H-Trust’s Q3 DPS down 1% to 1.04 S cents on enlarged base
Far East Hospitality Trust’s (Far East H-Trust) distribution per stapled security (DPS) fell by 1 per cent to 1.04 Singapore cents for the third quarter ended Sept 30 from 1.05 cents a year ago. This was due to an enlarged base that was largely a result of the implementation of the distribution reinvestment plan in the last three quarters, the hospitality stapled group said in a bourse filing on Wednesday morning.
https://www.businesstimes.com.sg/companies-markets/far-east-h-trusts-q3-dps-down-1-to-104-s-cents-on-enlarged-base

A-HTrust Q2 DPS dips 5.5% in absence of divestment
Ascendas Hospitality Trust (A-HTrust) on Tuesday posted 2.4 per cent higher gross revenue for the second quarter ended September. But its distribution per stapled security (DPS) declined 5.5 per cent, mainly because there was an absence of divestment.
https://www.businesstimes.com.sg/companies-markets/a-htrust-q2-dps-dips-55-in-absence-of-divestment

Ascott Reit DPU rises 5% to 1.91 S cents for Q3
Ascott Residence Trust’s (Ascott Reit) third-quarter distribution per unit (DPU) rose 5 per cent to 1.91 Singapore cents versus 1.82 cents a year ago. Excluding the divestment of Ascott Raffles Place Singapore, DPU for the quarter ended Sept 30 would have been 1.73 cents compared with 1.72 cents.
https://www.businesstimes.com.sg/companies-markets/ascott-reit-dpu-rises-5-to-191-s-cents-for-q3

Frasers Hospitality Trust posts 4.1% drop in Q4 DPS to 1.1655 S cents
International hotel investor Frasers Hospitality Trust’s distribution per stapled security (DPS) fell 4.1 per cent to 1.1655 Singapore cents for the fourth quarter ended Sept 30 from 1.2154 cents for the year-ago quarter. This was due to decreases in the gross operating revenue and gross operating profit of its Australia portfolio amidst a challenging trade environment in Sydney and Melbourne…
https://www.businesstimes.com.sg/companies-markets/frasers-hospitality-trust-posts-41-drop-in-q4-dps-to-11655-s-cents

Starhill Global Reit posts lower DPU of 1.13 cents
Starhill Global Real Estate Investment Trust (SGReit) has registered a decline in gross revenue, net property income, distributable income and distribution per unit (DPU) for the first quarter ended Sept 30. The decline in revenue and net property income was mainly due to lower income, as a result of the planned asset enhancement of Starhill Gallery in Malaysia, SGReit’s manager YTL Starhill Global Reit Management…
https://www.businesstimes.com.sg/companies-markets/starhill-global-reit-posts-lower-dpu-of-113-cents

EHT up 4%; largest investor offloads shares
Stapled securities of Eagle Hospitality Trust (EHT) staged a small comeback on Tuesday, gapping up at the open as buyers bought the assurance that concerns over the Queen Mary floating hotel were overblown. Sellers, however, eventually erased most of the early gains.
https://www.businesstimes.com.sg/companies-markets/eht-up-4-largest-investor-offloads-shares

Manulife US Reit completes acquisition of California office tower
Manulife US Real Estate Investment Trust (Manulife US Reit) on Wednesday morning said it has completed its purchase of a Class A office building in Sacramento, California. The pure-play US office Reit had announced the US$198.8 million acquisition of 400 Capitol Mall in September.
https://www.businesstimes.com.sg/companies-markets/manulife-us-reit-completes-acquisition-of-california-office-tower

Olive Tree Estates says key executive departures are ‘very natural’
Property company Olive Tree Estates (OTE), in response to the query about a flurry of key executive departures, told the bourse regulator that the resignations came as it shifts its business focus and strategy to emerging markets and affordable housing. Singapore Exchange Regulation (SGX RegCo) had asked Olive Tree Estates on Oct 25 for its sponsor and board’s assessment on the resignations of its key management…
https://www.businesstimes.com.sg/companies-markets/olive-tree-estates-says-key-executive-departures-is-very-natural