Companie’s Brief
CapitaLand India Trust announces $150 million EFR to develop properties in India
CapitaLand India Trust’s (CLINT) manager announced a non-renounceable preferential equity fund raising (EFR) to raise $150.1 million. The new units will be priced at $1.06 and in the ratio of 119-for-1,000 and works out at 12.1% of current unit base.
https://www.theedgesingapore.com/news/reits/capitaland-india-trust-announces-150-million-efr-develop-properties-india
Ho Bee Land has no explanation for spikes in share price, volume
Property developer Ho Bee Land is “not aware of any information not previously announced” nor has any explanation for the surge in its share price to a six-month high on Monday (Jun 19) amid heavier-than-usual trading activity.
https://www.businesstimes.com.sg/companies-markets/hot-stock-ho-bee-land-has-no-explanation-spikes-share-price-volume
https://www.theedgesingapore.com/news/sgx-query/ho-bee-land-triggers-sgx-query-after-shares-surge-172
IReit Global launches fully underwritten preferential offering
Europe-focused real estate investment trust IReit Global has launched a preferential offering at a ratio of 161 preferential offering units for every 1,000 existing units at a price of S$0.408 per new unit.
https://www.businesstimes.com.sg/companies-markets/reits-property/ireit-global-launches-fully-underwritten-preferential-offering
https://www.theedgesingapore.com/news/reits/ireit-global-launches-fully-underwritten-preferential-offering-raise-759-mil
Global Economy & Real Estate
UK mortgage rate hits 6% for first time this year in fresh pain
https://www.businesstimes.com.sg/property/uk-mortgage-rate-hits-6-first-time-year-fresh-pain
London home asking prices slide as rate rises stretch buyers
https://www.businesstimes.com.sg/property/london-home-asking-prices-slide-rate-rises-stretch-buyers
ECB hawks make a case for erring on the side of raising rates too high
https://www.businesstimes.com.sg/international/ecb-hawks-make-case-erring-side-raising-rates-too-high
Sweden’s property crunch worsens as another firm cut to junk
https://www.businesstimes.com.sg/property/swedens-property-crunch-worsens-another-firm-cut-junk
Where housing prices have crashed and billions in wealth have vanished
https://www.businesstimes.com.sg/property/where-housing-prices-have-crashed-and-billions-wealth-have-vanished
Germany industry lobby expects economy to stagnate in 2023
https://www.businesstimes.com.sg/international/germany-industry-lobby-expects-economy-stagnate-2023
Australia’s unemployment rate needs to rise to curb inflation: top central banker
https://www.businesstimes.com.sg/international/australias-unemployment-rate-needs-rise-curb-inflation-top-central-banker
Australia’s central bank hiked rates for fear inflation was becoming entrenched
https://www.businesstimes.com.sg/international/australias-central-bank-hiked-rates-fear-inflation-was-becoming-entrenched
China approves first share sale by developer since ban lifted
https://www.businesstimes.com.sg/property/china-approves-first-share-sale-developer-ban-lifted
Sun Hung Kai launches Guangzhou flats, banks on high-speed rail link to attract Hong Kong homebuyers
https://www.scmp.com/business/china-business/article/3224632/sun-hung-kai-launches-guangzhou-flats-banks-high-speed-rail-link-attract-hong-kong-homebuyers
China’s economy is on course for a ‘double dip’
https://www.businesstimes.com.sg/opinion-features/chinas-economy-course-double-dip
China cuts 2 key lending rates for first time in 10 months to support economy
https://www.straitstimes.com/business/china-cuts-lending-benchmarks-for-first-time-in-10-months-to-support-economy
https://www.businesstimes.com.sg/international/chinas-central-bank-cuts-two-benchmark-interest-rates
https://www.channelnewsasia.com/business/china-cuts-lending-benchmarks-first-time-10-months-support-economy-3573526
https://www.scmp.com/economy/china-economy/article/3224671/china-cuts-mortgage-related-rate-prop-economy-property-loosening-way
Hong Kong’s biggest mall amps up luxury appeal to compete for shoppers
https://www.businesstimes.com.sg/property/hong-kongs-biggest-mall-amps-luxury-appeal-compete-shoppers
https://www.straitstimes.com/business/hong-kong-s-biggest-mall-amps-up-luxury-appeal-to-compete-for-shoppers
Hong Kong unemployment unchanged as economy improves
https://www.businesstimes.com.sg/international/hong-kong-unemployment-unchanged-economy-improves
12,000 flats proposed for Hong Kong golf course site will be ‘surplus’ to estimated demand, planning official says
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3224634/12000-flats-proposed-hong-kong-golf-course-site-will-be-surplus-estimated-demand-planning-official
Weaker ringgit, easier approvals boost appeal of Malaysian property for China investors
https://www.businesstimes.com.sg/international/asean/weaker-ringgit-easier-approvals-boost-appeal-malaysian-property-china-investors
Malaysia secures RM71.4b in investments in Q1 2023
https://www.businesstimes.com.sg/international/asean/malaysia-secures-rm714b-investments-q1-2023
Disclaimer & Note:
Real Estate Developers’ Association of Singapore (REDAS) does not warrant the accuracy, adequacy or completeness of the information and expressly disclaims liability for errors or omissions therein. The content, accuracy, and opinions expressed are not investigated, verified, monitored, nor endorsed by REDAS. Every effort is taken to ensure that all information extracted is correct at the time of dissemination.
The Daily News is issued as news gathering for the convenience and benefits of REDAS’ members only and not for mass circulation. Members are advised to exercise discretion in the use and dissemination of the information. The news links are time-sensitive and require registration of fee-based digital subscriptions.